Chase and Wells Fargo unveiled innovative and provocative mobile banking apps in late 2018 that target young consumers with fresh, mobile-only approaches to financial fitness. These apps will challenge digital banking strategists to think more boldly about how traditional apps could reframe basic financial needs like managing cash flow, incorporate behavioral finance, and position banks in a proactive, forward-looking role as an adviser. Finn and Greenhouse demonstrate how bankers might enable customers to stretch cash until the next paycheck, pay bills and save on the go, move money easily, and find what they need in the apps intuitively. The experimental apps also offer cautionary tales for FIs looking to build ahead-of-the curve features into their retail mobile apps.
Join Javelin analysts Mark Schwanhausser, Tyler Brown, and Emmett Higdon as they tackle questions that should be on the minds of digital strategies:
- What are Finn and Greenhouse?
- How do the apps aim to fundamentally alter consumer behavior?
- What can digital strategists learn from them?
- What challenges do the apps face as they evolve?
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