Personal finance apps and money management services are the new frontier in the industry. Right now they’re only for those early adopters who can live with flaunting (or ignoring) their bank’s small print. But Open Banking has potential to start a new gold rush, with the goal to cater not only the tech savvy population, but anyone who wants to find better ways to manage their money.
“Would you like to see all your FS products in on place on your phone? Would you trust a personal butler that tells you how to manage your money?” All players in the FS industry will have to understand their customers’ answer to these and other questions, embracing and adapting to them, in order to face the new normal of PSD2-driven transparency.
How should banks forge a new relationship with their customers? How will they avoid losing share to the new competition - tech companies and start-ups, who are used to creating new products around their customers’ data? What do customers expect of new players, and of traditional ones?
Do you really know what people think when they picture a future of new tech-driven banking on their devices? Join GfK’s Miriam Comber, Financial Services Proposition expert understand in depth what customers want from FS providers, how apps for account aggregation services can be most appealing and how banks can maximise opportunities in this new era of open banking.