Key Shifts in Consumer Behavior in 2025: Survey Highlights

Based on GlobalData's 2025 Financial Services Consumer Survey, this report examines trends in the banking and payments sectors, with a focus on changing consumer attitudes and preferences. It begins by analyzing trends in banking, highlighting changes in the market with respect to product holding, consumer satisfaction, goals, and emerging technologies such as open banking. Payments are then analyzed to understand the changing usage of cash, digital payment tools, payment cards, and buy now pay later. Finally, actionable insights provide recommendations as to how banks and payment services providers can stay ahead of competitors.

The banking and payments sectors are rapidly changing due to the impact of digitalization, the introduction of new capabilities and technologies, and the rollout of advanced products and services. Due to the abundance of consumer data collected by banks and payment services providers, financial services offerings are becoming increasingly personalized-directly addressing the individual and unique needs of each consumer.

Scope

• Banks must provide a hybrid approach, combining physical and digital offerings. Banks must leverage cloud technology and AI to increase the reliability of their banking platforms and provide 24/7 customer service that feels as personal as talking to a human.
• Banks have managed to develop digital platforms that meet the basic needs of their consumers, such as simple navigation and login processes and the ability to explore a full range of digital products. However, digital platforms must be constantly improved to bring users the most up-to-date technology.
• Many consumers do not fully understand more complex financial products such as investments, insurance, and personal loans. Educating consumers on risk, how to begin saving or borrowing, and interest schedules is key to maximizing consumer lifetime value for banks and other financial services providers.

Reasons to Buy

• Understand market trends in banking and payments, including consumer behaviors, product holding, financial fraud, and real-time payment adoption.
• Read actionable insights for payment providers, banks, merchants, and government entities to address consumer needs and gain a competitive and international advantage.
• Understand the needs of various consumer demographics, segmented by region, country, and age.