Category
Lifestyle
Assisted Choices
Trend cluster
Category
Finance
Redefined
Financial institutions break free of tradition to reach younger consumers.
3.7
Trend score
Trend
What is the Finance Redefined trend?
Finance Redefined: Changing the way that traditional finance is perceived, modern banks are changing the game by adapting their physical store settings to be more in tune with the needs and lifestyle habits of younger consumers. Pulling inspiration from open concept offices, mobile-friendly retail spaces and even incorporating events on-site, banks are tapping into aesthetics and lifestyle needs that are much more approachable to younger clientele like Millennials. This shift away from tradition speaks to the growing need to not only attract diversified consumers, but also a need to redefine how legacy or long-standing brands are perceived.
Trend themes
Themes within the Finance Redefined trend
Three behaviours holding the trend together01
Modernized Retail Spaces
Financial institutions are updating their physical store settings to be more in tune with the needs and lifestyle habits of younger consumers, pulling inspiration from open concept offices, and mobile-friendly retail spaces.
02
Flexible Bank Designs
Banks are embracing an open-concept design with flexible elements, allowing interior components to be easily moved as needed to suit the ever-changing needs of the space.
03
Contemporary Bank Re-Designs
Banks are changing the public's perception of facilities by appearing more homey, comfortable and approachable with an open concept design that's equipped with mini offices.
Industry implications
What the Finance Redefined trend means for industry
Where the trend changes the playbookFor
Banking
Modernized retail spaces, flexible bank designs, and contemporary bank re-designs are disrupting the traditional banking experience.
For
Interior Design
Modernized retail spaces, flexible bank designs, and contemporary bank re-designs are leading the way for innovative interior design concepts.
For
Customer Service
Modernized retail spaces, flexible bank designs, and contemporary bank re-designs are improving customer service experiences and interactions.
Workshop question
If you were to completely revamp your business from the ground up what would that look like? What would you change?
Trend signals
Trend signals for Finance Redefined
Trend score 3.7 out of 10, from popularity 49%, activity 54%, freshness 8%.
Popularity49%
Activity54%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X (not a primary audience)
- Boomer (not a primary audience)
Market
North America
Evidence
Examples of the Finance Redefined trend
4 featured examples from Jun 6, 2017 to Mar 28, 2018CategoryBusiness
Express Personal Banking Branches
'Everyday Express' is Chase's Initiative to Best Serve Customers
Chase's Everyday Express locations are disruptive to the personal banking industry by offering a new customer experience.
CategoryArt & Design
Flexible Bank Designs
The Design of the Mobile Hello bank! by Cetelem Targets a Young Clientele
Disruptive innovation opportunity to rethink traditional bank branches and design spaces that appeal to younger consumers.
CategoryArt & Design
Contemporary Bank Re-Designs
The Nationwide Building Society's Interior Fosters Connectivity
Opportunity for banks to re-imagine their interior design and customer experience to create a more inviting and comfortable space.
CategoryMarketing
Hip Finance Lounges
Toronto's MogoLounge Offers Adult Education Sessions and Events
Online banks that focus on catering to Millennials' unique financial needs have an opportunity to empower this demographic and gain their loyalty.
