The news: We’ve covered how financial institutions (FIs) can connect with young consumers through financial wellness tools such as personal finance management and budgeting capabilities, and Sopra Steria’s 2025 Digital Banking Experience Report has confirmed these tools’ importance in attracting and retaining customers.
The findings: Offering digital tools for financial management is increasingly common among banks—52% of banks are enhancing their digital tools and services to help customers manage their finances.
However, prioritizing and effectively implementing financial well-being initiatives can be a significant differentiator in the banking sector. And the more established, mature FIs have placed a greater emphasis on incorporating technology, earning them a competitive advantage.