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RESEARCH EBOOK: WHAT BANKS AND FINTECHS NEED TO KNOW TO GROW MARKET SHARE

Research eBook: What Banks and Fintechs Need to Know to Grow Market Share

January 5, 2022

How, where and why people ‘bank’ and what it means for the future of financial services

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Despite 77% of U.S. adults still using traditional banks, Galileo research shows that 43% of their funds are kept elsewhere, and 61% of consumers are somewhat or highly likely to switch to a digital-only provider. 1

The way financial services are delivered to people and businesses globally is at a tipping point. Driven by rapid payments technology innovation and shifting consumer behaviors, the intersection of data, technology and finance has never presented greater opportunities for businesses looking to change how money moves around the world.

What's more, the opportunity is no longer limited to banking institutions. Non-financial businesses of all kinds are deploying innovative new user experiences and embedded financial solutions that are redefining the future of financial services—including how, why, and where consumers keep their money.

Take a deep dive into Galileo’s State of Consumer Banking and Money Survey results to discover how you can deliver financial experiences that respond to evolving consumer demands. You’ll learn more about where consumers keep their money, and why and how they use their accounts across a variety of traditional, digital and prepaid options. The eBook also unearths how financial innovators can build a roadmap to a better financial future for everyone, including:

• Why consumers choose and switch financial providers;

• The correlation between provider satisfaction and consumer behavior; and

• Opportunities for embedded finance and the future of fintech.

How-Where-and-Why-People-Keep-and-Use-Their-Money final screen-pil216u2ogtxug1nh1l700m29sdnz899ujbqcje134
How-Where-and-Why-People-Keep-and-Use-Their-Money final screen-pil216u2ogtxug1nh1l700m29sdnz899ujbqcje134

Download the free eBook

March 19, 2024

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The new BNPL post purchase offering helps banks and fintechs give consumers greater financial flexibility

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Galileo Expands Collaboration with The Bancorp to Offer Real-Time Payments via The Clearing House

Galileo and The Bancorp integration supports the seamless implementation of instant payments.

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February 1, 2024

Client Expansion, New Product Adoption Drives Q4 Growth

SoFi’s technology platform, which comprises Galileo Financial Technologies and the Technisys cloud-based core banking services platform, saw increases in net revenue and total enabled accounts during the fourth quarter of 2023.

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November 8, 2023

Product Uptake and Interest from FIs Powers Strong Q3

SoFi’s technology platform, which comprises Galileo Financial Technologies and the Technisys cloud-based core banking services platform, saw net revenue and total enabled accounts maintain growth during the third quarter of 2023.

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October 19, 2023

Galileo Payment Risk Platform Now Available to the Entire Financial Services Ecosystem

Companies outside of Galileo’s ecosystem can now leverage the proactive risk-scoring fraud engine and reduce payment and payment-related fraud.

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