Will Banking Apps Be the New Super Apps? Consumer Attitudes Toward New Services in Digital Banking

Consumer interest in new features and services provided through digital banking is high.

March 9, 2023 – Consumers increasingly choose digital banking channels to check their balances, initiate payments, apply for loans, and complete other interactions with their banks. This trend creates opportunities for banks to embed new features and services in their apps on top of traditional banking services. One promising innovation is to enable consumers to manage their interactions with merchants directly from their banking app.

This report gauges consumer expectations of banking providers and explores how consumers would like to engage with merchants and their bank to better manage their interactions with merchants. It is based on an Aite-Novarica Group online survey of 4,523 consumers in eight countries conducted in Q4 2022.

Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report.

This report mentions Clover, Ethoca, Mastercard, and Square.

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