Category
Tech
Delegated Interfaces
Trend cluster
Category
Financial
P2P
The financial industry adapts to consumer demand for peer-based platforms.
3.3
Trend score
Trend
What is the Financial P2P trend?
Financial P2P: Adjusting quickly to the P2P economy, consumers are increasingly comfortable with leveraging a network of peers for almost everything, including lending and borrowing money. Seeking more personable and seemingly authentic solutions for their financial needs, consumers are open to peer networks that offer more transparency and lower price points that traditional resources.
Trend themes
Themes within the Financial P2P trend
Three behaviours holding the trend together01
P2P Insurance
There is a growing trend of P2P insurance services that are becoming popular among consumers who value the cost savings and practicality of shared ownership.
02
Voice Assistant Money Transfers
Voice assisted money transfer services like Google Pay can create a simple and seamless payment experience for consumers in the digital economy.
03
Familial Payment Services
Banks and payment service providers are creating payment solutions that teach children money management skills which could potentially create a loyalty base among their youthful consumers.
Industry implications
What the Financial P2P trend means for industry
Where the trend changes the playbookFor
Fintech
P2P insurance companies and mobile apps introducing innovative payment systems are examples of trends disrupting the financial services industry.
For
Retail Banking
Bank partnerships with P2P platforms offer an alternative means of providing credit to consumers using a different approach to traditional retail banking.
For
Travel
Currency exchange startups like WeSwap are making foreign exchange cheaper and more efficient for travelers.
Workshop question
What parts of the customer journey could you push on to establish more confidence and trust from consumers?
Trend signals
Trend signals for Financial P2P
Trend score 3.3 out of 10, from popularity 58%, activity 34%, freshness 8%.
Popularity58%
Activity34%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Financial P2P trend
7 featured examples from Mar 11, 2016 to Apr 25, 2018CategoryBusiness
P2P Insurance Start-Ups
'Lemonade' is a New Service That Will Operate on a Peer Lending Model
Traditional insurance companies may need to re-evaluate their business models, adopt new technologies and think about how to leverage their existing customer base to remain compet…
CategoryTech
P2P Money Swap Apps
WeSwap Allows Travelers to Exchange Money with Clear and Transparent Rates
The finance industry can embrace P2P currency exchange apps to offer more convenient and transparent services to travelers, creating disruptive innovation opportunities.
CategoryTech
P2P Lender Bank Collaborations
The Zopa P2P Lending Platform Partnered with Metro Bank
The financial services industry can leverage P2P lending platforms to expand their offerings and partner with banks to increase their lending capacity.
CategoryAutos
P2P Car Insurance
Guevara Lets Groups Share Insurance in Order to Keep Claims Low
Guevara's P2P car insurance introduces disruptive innovation opportunities in the insurance industry by promoting shared resources and cost savings.
CategoryTech
Familial Payment Services
Virtual Piggy is Launching a Family-Focused Mobile Banking Solution
Opportunity for disruptive innovation in developing digital banking platforms with parental controls designed to teach children money management skills.
CategoryTech
Social P2P Payment Apps
France's Pumpkin Mobile Platform Allows for Convenient Payment Sharing
Pumpkin's innovative P2P payment app represents disruptive opportunities for the financial technology industry.
CategoryTech
Voice Assistant Money Transfers
Google Pay P2P Services Can Now Be Done With Google's Assistant
Integrating voice-activated payment services and mobile payment options could offer financial technology companies new ways to disrupt traditional banking and payment systems.
