2025 Digital Banking Trends
- Date:November 07, 2024
- Author(s):
- Mark Schwanhausser
- Emmett Higdon
- Dylan Lerner
- Ian Benton
- Gregory Magana
- Lea Nonninger
- Report Details: 11 pages, 3 graphics
- Research Topic(s):
- Digital Banking
- Digital Strategy & Experience
- Mobile & Online Banking
- PAID CONTENT
Overview
Digital banking strategists will be in the hot seat in 2025 to contribute more to profitability, turn falling interest rates into a positive story for savers and investors, and accelerate the development of virtual assistants.
Digital banking shifts its focus to making money. Pressure is mounting for digital banking strategists to drive sales, acquire deposits, and deepen relationships—in short, to make money and not just cut operational costs. It will require a new return-on-investment model driven by the vision that digital banking will be the face of a bank and orchestrate all the silos at a bank, not just facilitate their needs.
As Fed rates fall, pressure intensifies to coach customers on saving and investing. Declining interest rates will push banks and credit unions to prioritize digital financial fitness experiences and features that help customers decide where to save, how to save, and when to pivot to investing. The digital banking objective is clear and pressing—to boost the return on investment from savings and investment products.
Chatbots 3.0 take center stage. With 17 of the nation’s top 20 FIs offering a mobile chatbot, virtual assistants face one of the biggest turning points in their bumpy evolution. Increasingly, their emergence will make them the focal point of relationship-building—and that’s a frightening prospect for financial institutions that can’t keep pace with Bank of America, U.S. Bank, and Wells Fargo.
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