# Painless Financials Finance services are simplified to appeal to younger investors. By [Gil Cohen](https://www.trendhunter.com/ghaddi), SVP Client Success | Published Nov 7, 2017 | Category: [Business](https://www.trendhunter.com/pro/category/business-trends) Source: Trend Hunter, https://www.trendhunter.com/protrends/painless-financials ## Key Figures - Trend score: 3.5/10 - Evidence articles: 4 ## What is the Painless Financials trend? **Painless Financials:** With less than 10% of Millennials considering themselves to have high level knowledge about their personal finances, a huge opportunity lies in creating new resources for financial literacy. As modern adulthood becomes increasingly complex with the balance of multiple jobs, managing debt and paying off student loans, banking and investing can often become intimidating to younger consumers who are already accustomed to simplified apps and online tutorials. This shifting approach means Millennial loyalty will lie with financial institutions that offer a helping hand through streamlined financial literacy and hassle-free banking transactions. ## At a Glance - Evidence: 4 featured examples - Articles from: Aug 10 to Nov 1, 2017 - Published: Nov 7, 2017 - Patterns: [Cyclicality](https://www.trendhunter.com/pattern/cyclicality), [Reduction](https://www.trendhunter.com/pattern/reduction) - Megatrends: [Instant Entrepreneurship](https://www.trendhunter.com/megatrend/instant-entrepreneurship), [Simplicity](https://www.trendhunter.com/megatrend/simplicity), [Youthfulness](https://www.trendhunter.com/megatrend/youthfulness) ## Audience - Gender: 50% men, 50% women - Primary generations: Millennial - Top markets: North America, Europe ## Themes within the Painless Financials trend ### Digital Financial Education Creating new resources for financial literacy for younger consumers will be key to increase their financial knowledge and loyalty to financial institutions. ### Mobile Financial Services Mobile banking and financial tools like automated finance platforms and peer-to-peer payment methods, continue to be popular among millennial consumers. ### Personalized Financial Planning Personalized financial planning with a mix of technology and human expertise like virtual finance planners will be a disruptive innovation in finance industry. ## What the Painless Financials trend means for industry ### For Banking Financial institutions should offer mobile banking and digital financial education tools to attract younger consumers. ### For Fintech Fintech firms can leverage mobile financial services and personalized financial planning, implementing innovative solutions that appeal to millennial consumers. ### For Education Educational institutions can benefit by developing courses and training programs for financial literacy to tackle the knowledge gap among millennial consumers. ## Workshop question What is the simplest way to engage with your industry and how can you help streamline that for the future consumer? ## Trend signals for Painless Financials Trend score 3.5 out of 10, from popularity 57%, activity 39%, freshness 8%. - Popularity: 57% - Activity: 39% - Freshness: 8% ## Examples of the Painless Financials trend 4 featured examples from Aug 10 to Nov 1, 2017. - [Cost-Free Finance Planners](https://www.trendhunter.com/trends/virtual-financial-planner): The 'Summed' Virtual Financial Planner Offers Personalized Guidance (Category: Lifestyle) Implication: Disruptive innovation opportunity: Fintech companies can create virtual financial planning platforms that offer personalized guidance. - [Millennial Financial Advice Videos](https://www.trendhunter.com/trends/nowthis-money): 'NowThis Money' Offers Financial Advice in Snappy Videos (Category: Marketing) Implication: Developing innovative digital tools and platforms to provide financial advice to millennials. - [Automated Finance Platforms](https://www.trendhunter.com/trends/living-paycheck-to-paycheck): 'The System' Eliminates You From Living Paycheck to Paycheck (Category: Lifestyle) Implication: Fintech companies can capitalize on the trend of automated finance platforms by developing innovative financial products for individuals. - [Mobile Peer-to-Peer Payments](https://www.trendhunter.com/trends/paykey): Paykey Lets You Transfer Money Through Your Phone's Keyboard (Category: Tech) Implication: Paykey's keyboard extension disrupts traditional banking by offering a seamless social banking platform for peer-to-peer payments. ## Recent trend clusters - [Assisted Conversion](https://www.trendhunter.com/protrends/ai-assisted-checkout) (Business) - [Occasion Commerce](https://www.trendhunter.com/protrends/occasion-commerce) (Business) - [Autonomous Merchandising](https://www.trendhunter.com/protrends/autonomous-merchandising) (Business) - [Assisted Choices](https://www.trendhunter.com/protrends/weight-loss-medication-support) (Lifestyle) ## Trending in Business - [Performance-Based Creator Ads](https://www.trendhunter.com/trends/creator-ad-platforms) - [MIami Pop-Culture Shirts](https://www.trendhunter.com/trends/miami-pop-culture-shirts) - [Natural Deodorant Expansions](https://www.trendhunter.com/trends/target-beauty-studios) - [Mini Beauty Stores](https://www.trendhunter.com/trends/little-luxuries-store) All articles: [Business](https://www.trendhunter.com/business)