It’s been a tumultuous time for the financial services industry. Brands have battled through a variety of high-profile scandals, collapses & regulatory seizures while consumers have been challenged with inflation, rising interest rates and an increasingly complex financial landscape. Additionally, as big tech encroaches on the category with new tools & services including mobile wallets and Buy Now Pay Later, consumers are considering new financial providers. With so many different options at consumers’ fingertips, brands have stronger ambitions to become “one-stop-shops” in order to help maintain existing customers and acquire new ones.
For more information, please contact Adam Daniele.
23% of consumers are considering starting a new banking relationship in the next 6 months
35% of Americans have used Buy Now Pay Later (BNPL)
72% of consumers in the US are interested in using super apps
Sources:
Stat 1: Morning Consult
Stat 2: PYMNTS
Stat 3: PYMNTS
