Data Snapshot: The Nature of Work Is Changing

In these post-pandemic times, 38% of American professionals now engage in freelance work and must manage their complex financial lives with digital features and tools that are better suited for traditional employment. This trend underscores opportunities to better serve the 64 million workers who struggle with such basic banking tasks as accepting payments and managing irregular income. Recommendations include helping them better manage personal and business finances, transforming tax planning, and boosting their borrowing power. This report is part of the Digital Banking Data Snapshot series, which examines how banks and credit unions can earn and maximize their hold on primary-FI status in a brutally competitive environment.