What to read today: Insider Intelligence's Banking Trends to Watch in 2022: Digital transformation is disrupting the banking industry. Incumbent financial institutions (FIs), Big Tech firms, neobanks, and fintech companies will each feel its effects differently. This report covers how consumer demand for hyper-personalization reshapes the banking and payments experience, what the rise of super apps means for banking titans looking to maintain or grow their market share, and if Big Tech's foray into the financial services sector will affect banking and insurance..
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| December 18, 2021 | | | Study shows strong super-app demand in the US, vindicating providers' bundling trend | A sizable majority of US consumers want to use a super app to house their digital activities in one place, per a new study from PYMNTS. The study found that 67% of respondents would like to see at least two of their activities integrated in one place, while around 11% would like one app for managing their entire digital lives. The demand for integrated digital routines is also consistent with what venture capitalist and internet pioneer Marc Andreessen has posited about business demand cycles: That vacillating user needs lead to repeated bundling and unbundling of products. The interest in super apps demonstrates that consumers may view their current experience as too fragmented and complicated, and would prefer bundling their digital activities instead of conducting them separately. Insider Intelligence's Tom Auchterlonie has the full story. | | | BRIEFING HIGHLIGHTS | | | | | | | | | | | | | RESEARCH IN FOCUS | | | Insider Intelligence's Banking Trends to Watch in 2022 | Digital transformation is disrupting the banking industry. Incumbent financial institutions (FIs), Big Tech firms, neobanks, and fintech companies will each feel its effects differently. This report covers how consumer demand for hyper-personalization reshapes the banking and payments experience, what the rise of super apps means for banking titans looking to maintain or grow their market share, and if Big Tech's foray into the financial services sector will affect banking and insurance. | Get the full report → | | | | The Banking Heads of Digital Report | Digital is integral to the customer experience, and banks' heads of digital are the lynchpin. Through our exclusive interviews with heads of digital at 12 of the largest financial institutions and three top neobanks across the US, UK, and Canada, this report will illuminate the biggest challenges and opportunities these executives are facing. We glean insights into how heads of digital define their roles and their place in the organization; how trends are shaping their responsibilities; the greatest challenges heads of digital face; and the priorities they've set for the future. | Get the full report → | | | | The UK Digital-Only Banks Report | UK digital-only banks—particularly neobanks—have broken into the mainstream, but not into steady profits. Under pressure from investors, neobanks are trying a range of strategies to diversify their revenue streams. Whether they can pull it off remains to be seen, so incumbents should seize this moment of flux to secure a bigger share of UK digital account holders. This report delves into the largest UK neobanks' growth and what's fueling their rise, explores the challenges they face as the market evolves, and presents actionable steps that incumbents can take to strike back and win over digital account holders. | Get the full report → | | | | BECOME A SUBSCRIBER | | Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: | | | | |
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