Banks and fintechs are creating a two-sided ecosystem to bring their banking as a media strategy to life by displaying third-party content to personalize the experience for their clients. And it's playing our before our eyes.
Green consumers are looking for ways to make up for their ever-growing carbon footprints. However, consumer values regarding the environment don't always align with their purchase decisions. Cashback can change that.
Despite attempts from banks to implement profitable and engaging reward programs, the lack of value generated for banks, merchants and a streamlined experience for end-users halted past efforts. Open banking is now changing the fortunes of reward programs.
While payment providers continue to build infrastructure to generate customer insights from payment data, banks who gather a holistic view of all purchases, bank transfers and salary deposits still haven't fully harnessed or monetized their customers' data.