The last couple of years have seen the banking industry evolve at
an unprecedented rate. The pandemic and global lockdowns put economic pressure on everyone – many people lost their job and many small businesses were forced to cease trading.
Lockdowns also led to the mass closure of bank branches. Through sheer necessity, online banking became the norm and people became more receptive to new innovative services. In other words, consumer banking requirements that would have evolved over a decade were ushered in less than a year.
To really understand how consumer banking needs have changed since the pandemic and highlight the steps banks need to take to keep up with these changes, Tuum conducted an online survey.
In partnership with market research specialists Sapio Research, we surveyed 4,000 consumers and 313 IT decision-makers within financial institutions across the UK, Germany and France.
Download this report for insights into:
- The rise in consumer demand for ‘smart’ money saving services
- The emergence of DeFi and why banks need to embrace it
- The rising demand for embedded financial services, particularly from younger generations
- The steps banks are taking, and have taken, to address shifting consumer demands