Consumers demand on-the-go money management
Implications - Looking to be able to transfer, deposit and spend money at the drop of a hat, consumers are turning to innovative, convenient methods of managing their money. Businesses paying attention to this epic transition are developing technology for tablets, smartphones and accessories to improve the ease of transaction processing.
Trend Themes
1. On-the-go Payment Methods - Consumers are looking for convenient, easier and faster ways to make transactions when required.
2. Instantaneous Cash Access - Customers are interested in financial services that provide them with instant cash without any complicated procedures.
3. Mobile Banking Solutions - Virtual/mobile banking solutions that eliminate the need for physical bank branches are becoming more common.
Industry Implications
1. Fintech Industry - Advancement in trends that enhance customer experience through payment methods is a promising area for Fintech Industry
2. Mobile Applications Development - Developers experienced in creating payment apps are highly sought after in the industry due to the rise in demand for mobile payment solutions.
3. Financial Services Providers - Companies that offer innovative and easily accessible financial services stand to gain a competitive advantage.
