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

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.

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.

With strong digital money management tools, FIs can defuse a competitive advantage wielded by neobanks and personal finance management fintechs—and make customers more valuable over time. Many challenger banks and fintechs make improving customers’ financial health a key value proposition.

Personalized financial insights could spur customers to take control of their finances in real time. Just 18.8% of respondents call the feature “extremely valuable”—making it the category’s least sought-after tool. While offering personalized insights could be an opportunity to keep customers engaged, no surveyed neobanks and just 32% of FIs support it.

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.

Open banking can also help promote digital banking penetration by tying customers more closely to their digital banking platforms, rather than using third-party personal finance management (PFM) apps to manage their finances. Key Takeaway. As banks look to enhance their digital channels and drive adoption, they will focus on the following three areas:.

But persistent fears of infection, uncertainty over their personal finances and governmental measures will still keep many at (or close to) home. Safety is consumers’ No. 1 priority for travel, and the availability of a vaccine is a major factor in their future travel plans. How have US travel advertisers responded to the pandemic?

Uncertainty around the economy and personal finances has led many UK consumers to get ahead of the game and do some of their holiday shopping early. This year’s late-falling Amazon Prime Day (October 13–14) provided extra impetus to this trend. WHAT’S IN THIS REPORT?

Social media, video streaming, gaming, news, fitness, education, business, and personal finance apps have seen traffic rise dramatically, while travel apps have fallen. Ad placements worldwide rose 70% in H1 2020, according to App Annie, although revenues grew at a much smaller pace due to falling advertiser demand and related lower CPMs.

Neobanks have become more popular by providing competitive offerings like personal finance management features and budgeting tools and wrapping those features in a slick user experience. But nearly every neobank struggles against a common existential threat: profitability. Three Key Questions This Report Will Answer:. What factors will drive the neobank market forward in the next five years?

The Harris polling found that upward of three in 10 respondents were very concerned about the pandemic’s effect on their personal finances—37% of under-$50,000s, 30% of $50,000–$99,999s, and 33% of the $100,000-plus group. Thus, upper-income consumers are not immune to such stress.

Pew Research found that US consumer attitudes about algorithmic decisions were not favorable: 68% of US adults think personal finance scores using many types of consumer data (i.e., alternative credit scores) were unacceptable algorithmic decisions. Use of automated video analysis in job interviews also ranked as unacceptable (67%) in the same survey.

Consumers’ growing willingness to get their financial services from non-FI providers is spurring consumer brands to embed financial elements in their products and services. But this new form of finance will mean dramatic changes for incumbent and startup FIs.

Other industries that have been dipping their toes in the influencer marketing arena include automotive, luxury goods and personal finance. According to Takumi’s Keane-Dawson, the latter are using influencer marketing for brand building, with an emphasis on awareness about services that consumers may find useful during the pandemic. Health Organizations Embrace Influencer Marketing.