The state of financial wellness in America is often a hotly debated issue and has been a catalyst for innovation. As consumers lean into social media influencers and fintech apps to improve their budgeting, saving, investing and other financial decision-making capabilities, banks have a new mandate and a unique opportunity to make a significant impact: Leverage the powerful combination of digital access, mobile tools and behavioral finance to meet consumers where they are, regardless of the platform or stage of their financial wellness journey. By developing mobile-enabled strategies, banks can create a new financial wellness path for consumers, helping them to enhance their functional skills while also understanding the psychology behind their decisions about money. Panelists discuss the need for banks to go beyond financial literacy offerings, why digital and mobile channels are key to reaching consumers more effectively, and how they can help consumers better understand the emotions, values and life experiences that shape their financial decisions—and how to adjust their behaviors to improve their financial well-being.
