How financial relationships are changing
2022 financial relationships look very different from what they were even ten years ago. Today, couples are demanding greater flexibility and money management tools from their finance brands to help accommodate all styles of relationships. From Gen Z to the elderly, financial relationships look different for everyone and it’s time your finance brand reflected this in your products and services. To stay ahead of the competition and build long-lasting relationships with consumers, your finance brand needs to stay on top of what consumers are demanding to make their financial relationships easier.
Financial relationships require flexibility
According to recent research by Forrester, more and more finance brands are disrupting the status quo by designing products to help clients with their interpersonal financial needs. By addressing key pain points in consumers’ shared finance journey, your finance brand can create a unique value proposition that sets you apart from the competition. With everybody having a unique approach to money management, it’s important finance brands ease the stress placed on financial relationships by making managing and tracking money between individuals easier.
Most traditional finance providers haven’t strayed far from the run-of-the-mill shared bank account products, whereas fintechs have begun to lead the charge by offering forward-thinking digital money management tools. It’s important finance brands build valuable digital tools that help financial relationships prosper rather than hinder them.
It’s important finance brands build valuable digital tools that help financial relationships prosper rather than hinder them
All financial relationships are unique
As the concept of relationships continues to evolve and expand, finance brands need to stay ahead and offer flexible financial relationship tools. Some different types of relationships that require different financial tools include:
For Content marketing insights and tactics specific to the needs of financial marketers.
As more people decide not to pool their money together and cash becomes less used, making money sharing easier should also be a top priority for finance brands wanting to make financial relationships seamless. Finance brands and tools like Osko, Zelle and Venmo are becoming increasingly popular for the convenience and ease of use they offer consumers.
Key takeaways for finance brands
At the end of the day, how people operate within their financial relationships is unique to them. As relationships contine to evolve and expand, so must finance brands’ offerings. Flexibility and unique money management tools are what couples are demanding. By providing tools that make financial relationships more convenient and simpler, your finance brand can develop a unique value proposition that will foster consumer loyalty.