How, where and why people ‘bank’ and what it means for the future of financial services
Despite 77% of U.S. adults still using traditional banks, Galileo research shows that 43% of their funds are kept elsewhere, and 61% of consumers are somewhat or highly likely to switch to a digital-only provider. 1
The way financial services are delivered to people and businesses globally is at a tipping point. Driven by rapid payments technology innovation and shifting consumer behaviors, the intersection of data, technology and finance has never presented greater opportunities for businesses looking to change how money moves around the world.
What's more, the opportunity is no longer limited to banking institutions. Non-financial businesses of all kinds are deploying innovative new user experiences and embedded financial solutions that are redefining the future of financial services—including how, why, and where consumers keep their money.
Take a deep dive into Galileo’s State of Consumer Banking and Money Survey results to discover how you can deliver financial experiences that respond to evolving consumer demands. You’ll learn more about where consumers keep their money, and why and how they use their accounts across a variety of traditional, digital and prepaid options. The eBook also unearths how financial innovators can build a roadmap to a better financial future for everyone, including:
• Why consumers choose and switch financial providers;
• The correlation between provider satisfaction and consumer behavior; and
• Opportunities for embedded finance and the future of fintech.
Download the free eBook
Partner Banking at a Crossroads: Unlocking Growth with Embedded Finance
As financial innovation accelerates and regulatory oversight intensifies, the lines between fintech, banking, and infrastructure continue to blur. This timely American Banker Leaders episode will explore how this is impacting banks and their approach to navigating a new era of compliance, embracing diversified revenue models, and evolving with embedded finance.
Mercantil Banco Chooses Cyberbank Digital to Embrace Digital Transformation
Cyberbank, the next-gen digital platform from Galileo, will enable Mercantil Banco to transform its digital presence and customer experience for both consumer and corporate clients.
19 Best Practices For Monetizing Data (And Why They Matter)
Data represents value (and money) for a business by highlighting opportunities for increased efficiency, guiding smarter strategic decisions, revealing new revenue opportunities, and much more. A company can even monetize its unique data by marketing it to other organizations.
Rewarding Debit Card Users: What Was Once Largely Forgotten May Be Back En Vogue
The path to earning rewards when paying with debit has long been overshadowed by co-branded credit card offerings instead. Recently Galileo Financial Technologies launched a new co-branded debit program, which they believe provides brands with a means of introducing rewards-based debit cards to their customers.
3 Priorities for Financial Institutions to Reclaim the Role as Primary Bank
Convenience, data-driven personalization and automation can give customers more of what they want.
