蘑菇AV

During the season of giving, one gift that retailers can truly bank on is partnership marketing. Partnerships not only provide a host of benefits like extended reach and enhanced credibility, they can also make the holiday season considerably more profitable.

Online access and a fee-free ATM network are the two most important bank services/features according to US banking customers, per to a July 2024 survey from Nerdwallet conducted by The Harris Poll.

To serve customers with more 鈥渃omplex financial needs,鈥� Bank of America will build 165 new financial centers in key US regions.

To out-influence Gen Zers鈥� favorite financial social media creators, banks should mimic certain finfluencer strategies.

This move could spur demand for financial institutions鈥� consumer lending products like mortgages. Get ready to compete for this business.

With budget a primary consideration, more consumers are turning to 鈥渄estination dupes鈥� to stretch their money. 92% of travelers are open to the idea of visiting lesser-known, wallet-friendly destinations over popular hotspots, according to Bank of America鈥檚 Summer Travel and Entertainment Outlook.

For Fed鈥檚 rate-cutting, the question is how much and how soon: Central banks in Canada and elsewhere have forged ahead of the US in adjusting their monetary policy to reflect easing inflation. That鈥檚 set to change next week.

In a recent case study, three banks shared their strategies for saving and maximizing their marketing budgets.

First Electronic Bank will be the issuer. Welcome offers: Cardholders can earn $150 in travel credits after spending $1,500 within 90 days. They can get another $100 in travel credits if they spend more than $15,000 annually.

Featuring an offer in a bank鈥檚 rewards program significantly enhances its appeal. 79.4% of consumers are more likely to buy from a new retailer if it鈥檚 featured by their bank. 68.5% of consumers trust retailers included in their primary bank鈥檚 rewards programs; this rises to 87.2% among frequent reward users. 3. Personalization is non-negotiable.

The actors currently lending their appearances and voices to AI avatars are themselves data for training genAI models. AI-based productions are democratizing advertising, allowing even the smallest firms to produce high-quality ads with minimal effort and budgets. Forty-five percent of smaller advertisers will use genAI in their videos by 2026, per IAB鈥檚 2025 Digital Video Ad Spend Report.

Mass affluent consumers are a large demographic for banks to capture and monetize.

Bank of Canada projected that a 25% US tariff on all imports from Canada鈥攁nd Canada鈥檚 in-kind response鈥攚ould contract Canada鈥檚 GDP by 2.5% in the first year. It had also projected 2025 GDP to be around 1.8%. So the net effect of tariffs alone would put Canada鈥檚 economy into negative growth territory. Bank of Canada also said a trade war would permanently lower the country鈥檚 GDP.

On today鈥檚 podcast episode of The Banking & Payments Show, we do a deep dive into Maria Elm鈥檚 蘑菇AV report, The Bank in 2030. In the 鈥楽tory by Numbers鈥� segment, we find out how banks will promote their brands to consumers in the future. We argue nicely in the 鈥楩or Argument鈥檚 Sake鈥� segment about the end of banks as we know it and if it鈥檚 true that 90% of consumer-serving banks and credit unions won鈥檛 exist by 2030. Listen to the conversation with host, Rob Rubin, and analysts Maria Elm and Tiffani Montez.

Consumers aren鈥檛 ready to quit cash yet: The shift to digital delivery of services hasn鈥檛 relieved banks of their duty to manage cash鈥攑articularly if they鈥檙e seeking to win over cash-carrying millennials and Gen Zers.