The process of transferring money shifts to become radically simplified
Implications - Aligning with the culture of convenience consumers are so deeply immersed in today, financial institutions are creating and supporting features that create unprecedented levels of ease, providing cross-app functionality and even voice control support to carry out such transactions.
Insight - The traditional perception that the transfer of finances is a laborious task has rapidly been reimagined for today's consumer. The shift towards simplicity speaks to the ways in which the consumer desire for ease is increasing exponentially across all service-based industries.
Insight - The traditional perception that the transfer of finances is a laborious task has rapidly been reimagined for today's consumer. The shift towards simplicity speaks to the ways in which the consumer desire for ease is increasing exponentially across all service-based industries.
Workshop Question - What step of your brand experience do consumers hate the most? How could you minimize or eliminate it?
Trend Themes
1. Hyper-simplified Money Transfer - Financial institutions are creating and supporting features that create unprecedented levels of ease, providing cross-app functionality and even voice control support to carry out such transactions.
2. Artificial Intelligence Chat Assistants - Chatbots powered by AI analyze messages and offer suggestions such as payment transfer or polls to users.
3. Auditory Money Transfer Apps - These apps use ultrasonic sounds to identify phones and prevent mistakes or unsavory transfers.
4. Mobile Peer-to-peer Payments - Seamless social banking platforms, like Paykey, sync with one's financial accounts, offering a streamlined means of personal payment through the keyboard.
Industry Implications
1. Banking and Finance Industry - The industry has to reimagine traditional perception and create an easy and convenient transfer process to align with the culture of convenience.
2. Artificial Intelligence and Chatbots Industry - Users demand chats that are more useful, seamless, and delightful, and artificial intelligence-powered chatbots can help in offering instant suggestions.
3. Mobile App Development Industry - Mobile apps that meet the demands of users and are simple to use while providing seamless transactions are going to lead the industry.
