Consumers of all ages are spending their money online, but fewer use digital tools to save and invest. Firms are looking for tools to make it easier.
Digital tools can enhance their clients' financial services experience and the overall stickiness of customers.
Forward-thinking financial services firms are deploying the newest technologies for clients and they're how firms plan to grab the increasingly digital consumer. Check out how the typical American customer is spending their online lives.
Investor use of digital personal finance tools and applications
Which of the following would be most critical to achieving your firm's goals for growth?
2015
2017
Fully utilizing my firm's current technology
Investing in new and emerging technologies
Technology will not play a significant role in
my firm's ability to grow
Individuals are
3.5
times more likely to have an
Amazon Prime account than
a 529 college
education
account
(68% vs. 19%)
66%
of individuals
use a payment application,
such as PayPal, while only
14%
have ever
used an online budgeting tool
52%
of individuals play games
on their mobile phones,
while only
28%
have ever used
a retirement
calculator
Average hours spent online daily, by age
