Category
Tech
Delegated Interfaces
Trend cluster
Category
Appified Finance
2.0
Banks chase next generation customer satisfaction with vanguard app features.
3.2
Trend score
Trend
What is the Appified Finance 2.0 trend?
Appified Finance 2.0: Banks are staying competitive by incorporating vanguard technological features into their mobile banking apps as younger consumers become more comfortable using biometric technology that streamlines login and use of the application. Not merely effective in increasing customer satisfaction, such innovations also speak to concerns around security, with personalized login features a means of making paranoid customers feel safe about exchanging information through online and mobile applications while also serving to engage Millennials in a more intuitive way.
Trend themes
Themes within the Appified Finance 2.0 trend
Three behaviours holding the trend together01
Biometric Login
Banking apps are incorporating biometric technology into their systems to streamline login and secure customer information, presenting opportunities for companies to develop biometric solutions for other industries such as healthcare or retail.
02
Mobile-only Banks
The rise of app-only banks, designed to cater to the unbanked population or frequent travelers, presents opportunities for financial institutions to develop user-friendly, smartphone-based banking systems and expand their customer base.
03
Integrated Finance Management
All-in-one finance apps, such as Empower, are targeting millennials who want to manage their finances in one place, which presents opportunities for companies to develop finance apps with financial planning features that also integrate with their customers' banks.
Industry implications
What the Appified Finance 2.0 trend means for industry
Where the trend changes the playbookFor
Healthcare
Biometric technology used in mobile banking can be applied in healthcare, such as biometric patient identification and secure medical record storage systems.
For
Travel and Hospitality
Mobile-only banks designed for frequent travelers present opportunities for the travel industry to integrate banking and travel services, such as travel insurance, foreign currency exchange and itinerary planning, in one app.
For
Small Business and Freelance
Freelance finance apps like Tycoon present opportunities for companies to develop integrated business management platforms with finance tracking features to empower small business owners and freelancers.
Workshop question
How does your next customer want to interact with you?
Trend signals
Trend signals for Appified Finance 2.0
Trend score 3.2 out of 10, from popularity 54%, activity 35%, freshness 8%.
Popularity54%
Activity35%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
South America
Evidence
Examples of the Appified Finance 2.0 trend
5 featured examples from Jan 11 to Oct 1, 2017CategoryLifestyle
Freelance Finance Apps
The Tycoon App Helps Digital Nomads and Remote Workers Track Jobs
Disruptive innovation opportunity: Develop innovative finance apps and platforms that cater specifically to the needs of freelancers, providing tools for income tracking, tax mana…
CategoryTech
Instantaneous Banking Apps
'Monzo' is an Online Bank That is "Built for Your Smartphone"
Disruptive innovation opportunity: Developing online banking platforms that are user-friendly and built for smartphones.
CategoryTech
Nomadic Finance Apps
The Combine App Makes Banking Easier for Frequent Travellers and Expats
The banking and financial technology industry can leverage the nomadic finance app trend to develop cutting-edge solutions that simplify cross-border financial management.
CategoryTech
Empowering Finance Apps
The Empower App is Designed to Help Millennials Manage Their Money
The banking industry can benefit from developing integrated finance apps to appeal to younger generations.
CategoryLifestyle
App-Only Banks
NOW Money Provides Affordable Services to Unbanked Migrant Workers in the UAE
Fintech companies can utilize app technology to serve the unbanked population.
