Perhaps because of nervousness about their finances, more Gen Zers rated two alert features as “extremely valuable” than overall respondents did: alerts for when an account balance drops (a gap of nearly 13 percentage points) and when an account overdraws (a gap of about 10 percentage points).

The percentage of US adults who lacked savings to cover a full month of basic expenses rose to 29.0% in January, up from an already high 22.3% the previous month. This figure had hovered above one-fifth since June 2021, when states began terminating the expanded federal unemployment benefits that had helped many weather the pandemic.

On today's episode, we discuss how digital-only neobanks are reshaping consumer banking, what makes them an attractive alternative to legacy banks, and how they are incorporating subscriptions into their business model. Tune in to the discussion with eMarketer vice president of content and head of financial services at Insider Intelligence Daniel Van Dyke.

The UK-based personal finance management app seeks to raise $128.2M in two years to go global. Expanding to less mature markets can help it its rapid user growth.

The financial services sector will continue to increase its investments in digital advertising this year despite the pandemic. Shifting consumer behavior toward digital banking services and heightened interest in personal finance has given financial services companies good reasons to continue advertising.

What it means: We predicted credit card issuers would embrace mounting interest in day trading and personal finance to launch features akin to Robinhood’s—but a debit offering separates Robinhood from the pack. It also helps Robinhood compete on new fronts against a range of other firms at once:. Other fintechs.

Gen Z is embracing a wide variety of fintech tools and apps designed to democratize personal finance, help them manage their money, and work toward their personal financial goals. They are especially drawn to easy-to-use applications that are educational but also fun to use.

Customers now want personal finance management tools and greater data security when banking digitally. The rise of challenger banks puts pressure on credit unions to innovate and keep members happy to avoid attrition. The big takeaway: Improving customer experience is the top objective for 81% of credit unions, according to a survey from Cornerstone Advisors.

Despite the decline in total ad spending in the US this year, the financial services industry will increase its digital ad outlays. Why? The pandemic has caused many consumers to reassess their personal finances and change how they bank, leading the financial services industry to continue spending on digital ads during the pandemic.

eMarketer vice president of business development Marissa Coslov, principal analyst Mark Dolliver and vice president of research Jennifer Pearson discuss whether distance learning works, what the knock-on consequences are and how parents are using digital to cope, handle, distract and educate their kids. They then talk about the postponement of the 2020 Summer Olympics, free Amazon Prime Video kids content and the impact Americans think COVID-19 will have on their personal finances.

US adults share a variety of personal finance concerns amid the pandemic-induced recession.

Third-party personal finance software has proliferated to offer consumers a plethora of options to digitally watch over their finances. FIs can help their customers protect themselves by letting them pick and choose what they want to share. Demand is moderate relative to the rest of the category: 28.0% of respondents rated it “extremely valuable.”

Most mobile app time is in the categories detailed above, but a variety of other areas also attract user attention, including shopping, dating, finance, travel, fitness, and navigation. Categories such as travel and ride-sharing have contracted during the pandemic—but are making a comeback as more consumers resume in-person activities—while ecommerce, fitness, and personal finance have expanded.

That is, climate-friendly products are preferable, but personal finances still are more important, so the demand for these goods remains elastic. Many people support sustainability but don’t buy sustainable products because of higher prices.