The news: Sixty-four percent of Gen Z and 65% of millennial homebuyers say their financial well-being will depend on their ability to refinance to a lower interest rate in the future, per Truework’s “The State of Homebuying in America” report. But if rates don’t significantly drop over the next few years, these customers’ mortgages could be at risk of defaulting. Our take: Financial institutions (FIs) can step in to help young homeowners navigate their mortgages while they await rate changes. FIs can start by offering automated refinance alerts, enhancing digital transparency and providing a homeownership/homebuying educational hub.

The technology will improve banks’ customer service and help them deliver more personalized interactions.

US ad spend on financial media networks (FMNs) will more than double in 2025 and again in 2026. But with just $710 million projected in US ad spend in 2025, per June 2024 EMARKETER forecast, FMN ad spend will be 18 times smaller than retail media network (RMN) ad spend.

Western Union has become the latest financial company to launch a media network, joining the likes of Chase and PayPal. “The biggest advantage [financial media networks] have is just breadth. So, unlike a retail media network, they capture the entire spending history that a customer has,” said our analyst Maria Elm on an episode of our Behind the Numbers podcast.

Commerce media is becoming more competitive as retailers and non-retailers continue to build out their networks and advertisers prioritize measurement for proven results. Looking ahead to 2025, cross-industry partnerships will grow and in-store media will enable retailers to merge online behaviors with in-person shopping.

Measurement is on the minds at Advertising Week New York. With flat or shrinking budgets, clients need to pinpoint—and be able to prove—where growth is coming, Meredith Zhang, measurement lead at TikTok, said during the event.

American Express is expanding Amex Offers, which allows advertisers to serve card holders tailored deals. The expansion comes on the heels of Chase and PayPal launching financial media networks (FMNs), a trend we expect will continue.

US omnichannel retail media ad spend will account for nearly a quarter of total media ad spend by 2028, reaching $129.93 billion, per our forecast. This growth will be fueled by a surge in retail media search, non-endemic partnerships, and off-site placements. However, financial media networks may give retail media networks some competition for advertiser dollars.

In just five years, retail media went from a $1 billion segment to a $30 billion segment. With US omnichannel retail media ad spend poised to reach $59.98 billion this year, per our October 2023 forecast, non-retail industries from health and fitness to restaurants and financial institutions are looking to build out their own media networks.

Can an AI recruiter save a troubled labor market? AI could disrupt recruiters’ jobs. Turn’s Brian Gaspar spoke with us about bias in AI and how to hire the right talent.

Fintech companies worldwide garnered $50.7 billion in funding during H1 2022, down nearly 23% year over year. Still, this sum is already higher than 2020’s total of $49.5 billion, indicating a greater trend of increased funding.

Even insured patients need help affording care. We dive into a new survey on consumers’ medical cost concerns and how price transparency tools can turn confusion into clarity.

The No. 1 biggest source of financial stress among US adults last month was managing living expenses, with 27% being most concerned about the cost of necessities like groceries, gas, and utilities. Saving, investing, and planning for the future were the second biggest stressor, cited by 19%, while managing debt was No. 3, with 13% calling it their primary financial worry.

People trust their gut, but AI doesn’t have one: Executives are guarded about AI adoption for high-level use. There’s a path forward, but given the risks, C-suite caution is wise.

In 2021, mobile finance apps reached 573.1 million downloads in the US, up nearly 19% from 481.9 million in 2020.

Fintech companies worldwide raised $94.7 billion in funding over the first three quarters of 2021, almost as much as the two prior years combined.

Lockdowns, online shopping, and fear of germs during the pandemic have hastened the shift toward all types of digital payments. As a result, Gen Z has fully embraced electronic wallet services, contactless payments, peer-to-peer payment apps, and digital uses of credit, including buy now, pay later.