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The traditional retail banking model, which had been the cornerstone of helping people manage their money for many years is now finding credible competition from challenger  banks who have digital strategy at their core. Coupled with the unprecedented impact from Covid which has intensified the shift to a more personal approach to banking through the digital domain, it has never been more important to understand customer attitudes to remain competitive in the 

current business  environment. 


To help level the playing field we share our findings in this study, co-authored with MoEnagage, which yields trends and insights to help traditional retail banks better understand the trajectory of generational attitudes and digital direction.

Highlights from the report
Major takeaways
  • Customers are looking for the 'Netflix' of banking experience. 

  • Mobile Apps are outperforming websites across key geographies.

  • Gen Z and Millennials will reshape expectations from Banks and Fintech brands. 

Changing trends accelerated by Covid
  • Cash and plastic cards were replaced by contactless payment modes such as digital wallets.

  • Bank owned and managed online apps became popular for lifestyle and utility related payments.

  • Payment aggregators who unified different kinds of transactions on a single portal became popular.


Of consumers are concerned about going to their bank 


Are doing more remote work/ errands


Are more inclined to try a digital app


Are worried about being able to repay loans

Is it possible to create the Netflix of banking?

​What makes Netflix stand out from the crowd and is it possible to bring those winning features over into the world of mobile banking?

  • Transparent: Netflix has a simple subscription plan that does not confuse anyone. There are no hidden in-app payments.

  • Ease of usage: Netflix is fairly easy to access, use or even cancel subscriptions.

  • A seamless experience: Users get a truly connected experience across different devices.

How to make AI work for you?

In the report we discuss how Artificial Intelligence (AI) is driving improvements in several aspects of banking and in particular there are four ways in which you should make AI work for you:

  • Eliminate guesswork 

  • Rapid experimentation

  • Never miss an opportunity

  • Maximise user engagement


From their first interaction with your app, users decide whether you hold enough value to remain installed.


Keep users engaged with an awesome, innovative & user-centric engagement strategy


Whether through advertising or IAPs, maximise the value of your customers