Category
Business
Errand Leisure
Trend cluster
Category
Community
Banking
Banking platforms and spaces are prioritizing social engagement and community.
3.9
Trend score
Trend
What is the Community Banking trend?
Community Banking: Some banking and investing services are prioritizing community-based, social experiences that help clients pool resources, get more information, and/or create a sense of comfort and familiarity with financial services.
Insight
The consumer insight behind the Community Banking trend
Financial services tend to be intimidating, particularly for consumers who weren't raised with financial literacy as part of their education. Those who find banking and investing intimidating benefit from apps, services and community spaces where information is simplified and shared. These consumers require services that prioritize accessibility, whether that's through community or by other means.
Trend themes
Themes within the Community Banking trend
Three behaviours holding the trend together01
Community-based Banking
Financial services that prioritize accessibility, whether through community or other means, are gaining popularity as they help consumers pool resources, get more information, and create a sense of comfort and familiarity with financial services.
02
Social Investing Platforms
Next-generation investing platforms that prioritize community and social experiences, such as group chats and fractional investments, are making it easier and less intimidating for young investors to get involved in the market.
03
Multi-functional Community Spaces
Community hubs that combine traditional banking services with social event spaces, cultural centers, and cafes are gaining popularity as they create a welcoming and inclusive environment for customers.
Industry implications
What the Community Banking trend means for industry
Where the trend changes the playbookFor
Banking and Finance
Community-based banking, social investing platforms, and multi-functional community spaces are transforming the banking and finance industry, offering more accessible and inclusive services to consumers.
For
Hospitality and Event Management
Multi-functional community spaces, such as the NeighborHub facility and the ImaginCafe, highlight opportunities for incorporating financial services into hospitality and event management.
For
Technology and Social Media
Social investing platforms, like Public.com, rely heavily on technology and social media to connect users and create a community-focused investment experience, presenting opportunities for innovation in these industries.
Workshop question
How could your brand make its product/service more accessible for its customers?
Trend signals
Trend signals for Community Banking
Trend score 3.9 out of 10, from popularity 53%, activity 44%, freshness 19%.
Popularity53%
Activity44%
Freshness19%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Community Banking trend
8 featured examples from Apr 13, 2021 to Dec 6, 2023CategoryTech
Virtual Banking Environments
The Uni-Verse is a Banking Metaverse for Union Bank of India Clients
Opportunities for banks to leverage virtual environments and offer clients swiftness and safety in performing banking tasks in the metaverse.
CategoryTech
Community-Centric Investment Apps
This App Helps Investors Inspire and Inform Each Other
Opportunity for disruptive innovation in fintech by offering easy-to-use digital investment products and services for micro-investors at a low cost.
CategoryLife-Stages
Community-Focused Bank Cafes
ImaginCafe by CaixaBank Creates a Cultural Space for Young Consumers
Banks can create community spaces that align with the cultural and social interests of their target market.
CategoryTech
Visual Payment Apps
Vizme Turns the Experience of Sending or Spending Money Into Stories
Vizme's visual payment app offers an innovative solution for the fintech industry, providing a more engaging and user-friendly financial management experience.
CategoryBusiness
Investing Gen Z Group Chats
Finary Raises Money to Build the Investing Chat Platform
Finary's platform provides opportunities for disruptive innovation in online investing, socially responsible investing, and digital banking.
CategoryBusiness
Community Building Banking Centers
NeighborHub's All-in-one Facility is More than Just a Bank
Banks innovating their business models to prioritize customer relationships and blend financial transactions with community-building efforts.
CategorySocial Good
Enriching Senior Initiatives
Ogilvy Shanghai Debuts a Seniors Initiative Called 'Morning Shanghai'
Opportunity for technology companies to develop digital tools and platforms that empower seniors and enhance their digital literacy.
CategorySocial Good
Post Office Bank Centers
BankHubs Have Opened in Local Post Offices as Part of the CACA Initiative
The development of BankHubs in Post Offices is a disruptive innovation opportunity for the banking industry to increase accessibility and proximity to banking services.
