Consumers Want a Personalized Approach to Finances

Consumers aren’t content with just basic financial functions like balances, transaction history, and monthly statements. New research from MX shows a significant interest — and expectation — for a more personalized and proactive role from their financial services providers and apps. 

Seventy percent of consumers expect their financial services providers to give them personalized notifications and insights. At the same time, 63% want their financial services providers to proactively help them better manage their finances. These desires and expectations were reflected across all generations. 

This research shows that consumers want and need more from their banks. They need a financial services provider that delivers personalized insights and notifications to support their financial needs. They need actionable data that enables them to better understand their finances and reach their financial goals. 

We see Open Finance as a way to deliver on these expectations and needs. Open Finance enables everyone to access and act on financial data to build personalized experiences and make smarter decisions. 

Explore the full research report for more consumer trends on digital and mobile banking.