Explore the evolving trends in banking. Consumers’ values and expectations of their bank are evolving, stemming from a new generation of buyers and the rise of disruptive fintechs helping people to reimagine how banking could - and should - be.

1. snapshot
today’s finance
trends
Explore the evolving trends in banking. Consumers’ values
and expectations of their bank are evolving, stemming from
a new generation of buyers and the rise of disruptive
fintechs helping people to reimagine how banking could -
and should - be.
SIGNMESH.COMSNAPSHOTMAY2018

2. introduction
INTRODUCTION
The world of finance is evolving. Legacy banks are
beginning to disappear from our high streets as the
importance of facing and adapting to change
becomes apparent.
Fintechs are entering the market and showing
consumers that banking and money-handling simply
“doesn’t have to be this way.” As a result, expectations
and trends are changing.
In this report, we will explore how banks and other
finance services are keeping up with these top trends:
• Personal, intuitive finance
Finance services should reflect the individual’s
goals, values and spending behaviors.
• Banking is a two-way relationship
Openness and control in the hands of the
customer.
• Limitless banking
No restrictions on when are where money can be
accessed.
• Banking for social good
Brands need to begin showing corporate social
responsibility - and involve customers.

3. content
1
the state
of finance
& banking
2
new trends
in the world
of finance
3
what’s the
takeout?
CONTENT

4. the state of
finance &
banking
INTRODUCTION
1
4

5. INTRODUCTIONTHESTATEOFFINANCE&BANKING
Global investment in fintech ventures since
2010 is close to $100 billion, and reached an
all-time high in 2017 with $27.4 billion
invested in one year alone.

6. INTRODUCTIONTHESTATEOFFINANCE&BANKING
“FinTech firms are finding success with a
customer-centric focus that fills in gaps left
by traditional firms. These gaps opened the
doors to FinTechs, but trust in traditional
firms remains important to customers,”
Penry Price, Vice President, Global
Marketing Solutions, LinkedIn.

7. of finance-sector
executives have
cited digital
transformation as
the second-highest
priority this year
(Cyber-security
was No.1).
84%
Source: EY Survey
FINANCETRENDS

8. “The only thing advancing faster than
technology is consumer expectations
INTRODUCTIONTHESTATEOFFINANCE&BANKING
…New entrants are redefining financial experiences
and challenging incumbent financial institutions by
driving technological innovation in pursuit of meeting
changing consumer expectations”
Jeff Yabuki, President and CEO, Fiserv

9. new trends
in the world
of finance
INTRODUCTION
2

10. personal,
intuitive finance
Personalization is an ever-growing
expectation as tech disruptors redefine
services in almost every industry. Today’s
banks and finance services should reflect
the individual’s personal goals, values and
spending behaviors.
FINANCETRENDS

11. Consumers are willing to switch to non-
bank alternatives - and even pay extra -
to receive personalized services and to
be rewarded for their business.
Nearly 1 in 5 are willing to pay their
current bank to simply know them
better.
INTRODUCTIONFINANCETRENDS
Source: CGI Digital Banking Report

12. Here’s how some banks are making the
move towards more personalized
experiences …
INTRODUCTIONFINANCETRENDS
Source: CGI Digital Banking Report

13. Debit Card For
Millennials
Hoot is a debit card which can be
connected to a smartphone, and the
owner’s profile photo can be
displayed on the small screen on the
card.
The card has a button which can be
pressed to view bank details,
spending habits, and financial tips.
The seamless working of the card
with the smartphones gives users
different personalization options.
Source: http://signme.sh/w3LXNJA6k
FINANCETRENDS

14. Zak - Your New
Banking Partner
Swiss-based Bank Cler have
launched Zak, a 100% mobile
banking app and free for anyone who
wants a convenient but fully-
controllable bank account in their
pocket. The user-friendly design
makes it simple to drag-and-drop
custom amounts of money within
one’s account to various “saving
pots” for different goals, for example
holidays, a new car etc.
They will continue to improve the
app with customer feedback via an
integrated chatbot.
Source: http://signme.sh/oGLzLShyS
FINANCETRENDS

15. two-way
banking
Today’s consumers are becoming used to
brands treating them as partners and less
like customers. Financial institutions
should make a move towards openness
and put the control into the hands of the
user.
FINANCETRENDS

16. They expect their
bank to understand
their personal goals
& preferences, and
proactively deliver
them the right
offers and services.
But - an average of
only 24% believe
their bank
understands their
current goals.
24%
FINANCETRENDS
Source: CGI Digital Banking Report

17. Some financial service businesses are
demonstrating they understand what’s
important to their Millennial customers by:
1. educating rather than informing
2. using informal, layman speech rather than
jargon
3. supporting and enabling healthy habits
rather than empty suggestions
INTRODUCTIONFINANCETRENDS

18. Santander’s
Curated Content
Hub For
Millennials
The aim of their “Prosper and Thrive
Content Hub” is to give users access to
practical advice for financial well-
being and digestible descriptions of
financial jargon without it sounding
like it’s coming from a traditional bank.
They partnered with several content
businesses including SapientRazorfish,
Contently and Newscred. The hub
itself is divided into three sections,
each of which is it’s own - very
achievable - goal, they are: Save Up,
Master Debt and Live Life.
Source: http://signme.sh/UbohpTe-J
FINANCETRENDS

19. N26’s Bold
Millennial
Campaign
N26, the Berlin-based mobile
banking startup has a new hashtag
“#nobullshit,” taking aim at
traditional banks.
The hashtag on bold posters can be
seen in subway stations in Berlin, and
will now appear in Munich and other
cities as the OOH campaigns
broadens its’ rollout.
Source: http://signme.sh/-WHCAGMpw
FINANCETRENDS

20. Revolut Savings
Tool
The new feature is called Vaults and
enables users of the app to save spare
change that they have left over from
daily purchases. This option is
available in all 25 supported currencies
of Revolut. Users can also schedule
regular saving payments into their
Vaults.
The bank developed the new feature
after customers continuously were
asking for a tool that lets them save
their change.
Source: http://signme.sh/RPvTsDyw8
FINANCETRENDS

21. limitless
banking
Today’s consumers don’t want to be
restricted on when and where they can
access their money, whether this is by
borders, by devices or simply by “the way
things have always been done.”
FINANCETRENDS

22. Millennials don’t want to be burdened
with financial products that tie them down
and restrict them doing what they want to
do. They prefer access to products &
services, which brought about the sharing
economy and flexible fintechs.
INTRODUCTION
Source: New York Times
FINANCETRENDS

23. The Multi-Bank
App
The Citibank app serves all clients
across the US, whether they’re a
Citibank account holder or not.
They’re able to view and manage all of
their financial accounts within the app
- even bills such as mortgage
payments and student loans - no
matter the number of different banks
they are customers of.
A dashboard displays an overview of
their finances in a quick snapshot from
multiple banks. They can track and get
insights into their spending habits and
set savings goals, all from one place.
Source: http://signme.sh/1ZDNXjMVn
FINANCETRENDS

24. Feeless Travel
With Mobile
Banking Service
Lunar Way
Denmark-based Lunar Way launched
it’s newest feature, a travel card that
doesn’t charge exchange fees.
User will be able to change the
currency of their prepaid multi-
currency Mastercard from within the
Lunar Way app. This way the users
don’t have to pay exchange fees.
Source: http://signme.sh/Tz-rqwhaZ
FINANCETRENDS

25. banking for
social good
Millennials, and especially Generation Z
are increasingly conscious about social
issues and the power of big brands to
make real change. Financial institutions
need to begin showing corporate social
responsibility - and involve customers.
FINANCETRENDS

26. 86% of Millennials
said they are
interested in
socially responsible
investing.
This cohort
demand that banks
have social
responsibility,
maximum
transparency and
values.
86%
Source: Morgan Stanley
FINANCETRENDS

27. “[Millennials] are not willing to work at just anything,
they believe companies should generate values, and
that’s why they demand that banks should have social
responsibility, maximum transparency and values.
…We shouldn’t forget that this is the generation that is
loyal to experiences rather than brands”
INTRODUCTION
Source: BBVA: The Millennial Disruption Index
FINANCETRENDS
Prof. Rodrigo García de la Cruz, Instituto de
Estudios Bursátiles.

28. Bank For Good
The Ant Forest App by Chinese
mobile payments leader Alipay turns
mundane finance activities - such as
paying bills - a greener act. It also
rewards users who opt for more eco-
friendly activities such as taking
public transport and walking to
work.
Alipay want to be open about this
social-impact way of banking, and
have even installed a live camera
feed in their newly planted forests.
They wanted to create a solution
that not only uses gamification to
increase numbers, but to really add
value for their users.
Source: http://signme.sh/KSUu5e4Vu
FINANCETRENDS

29. A Mobile Bank
With A Purpose
Dubbed “the sustainable bank
account for your smartphone”,
Tomorrow is a 100% mobile bank
which helps customers make an
impact. The bank itself finances
renewable energy, organic
agriculture and microcredit projects,
and sponsors reforestation projects
with every payment users make.
The bank offers a tailored investment
strategy for each individual to make
a positive impact with their money.
Source: http://signme.sh/CBa6FpWE4
FINANCETRENDS

30. what’s the
takeout?
THETAKEOUT
3

31. IMPLICATIONS
smarter with data
Banks have the advantage of having a
mass of customer data at their
fingertips. By harnessing this data
(openly with customers) they can
begin tailoring the customer
experience to fit the individual goals
and preferences of each customer.
This is how finance organizations can
really differentiate from competitors
in the future.
implications
conversational business
Moving away from the traditional role of a
bank, financial institutions need to begin
thinking of their customers as partners and
people who can help them as much as they
can help the customer. By connecting with
customers on their level, brands can
discover more about what they actually
want and need, creating more loyalty by
delivering the best and most fitting value.
redefine values for today
A brand rooted in solid values which drive
their decision-making in every aspect of
their business makes for a trusted
company by today’s consumers. More than
an internal code, a brand’s values are
something consumers like to feel they
share, in turn making them feel more
connected to the brand and more likely to
engage and do business with them.

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