The US financial landscape is evolving fast. While fintech adoption lagged behind other markets, a rapid shift is underway—31% of US households now hold accounts with a digital-only bank. What does this mean for traditional banks, mobile banking, and the future of financial services?

In this data-packed episode of Banking Uncovered, host Charles Green sits down with Jim Langston, Commercial VP, and Luke Allchin, Research Director at RFI Global, to break down the key US consumer trends driving change in 2025 and beyond. Backed by insights from the largest survey of US financial behavior, they explore how banking, fintech, and investing are transforming—and what financial institutions need to do next.

Topics discussed include:

• The year of the fintech: After a slow start in the US, digital-only providers are surging, with 31% of US households now holding accounts with one.
• Mobile banking takes over: Mobile is surpassing desktop usage for banking and this trend is projected to happen for investing too.
• How traditional banks are responding: Big banks are innovating with personalized services, financial wellness tools, and expanded branch networks to stay competitive.  
• The growing wealth divide: The data shows that while overall wealth has increased, many struggle to keep up with their finances.
• The new era of investing: Demand for financial advice is at its highest level in a decade, with social media, gamification, and AI-driven robo-advisors changing the landscape.

Listen to the podcast to understand the consumer trends reshaping US financial services.

In this episode of Banking Uncovered, we take a deep dive into the evolving financial landscape, exploring the complex relationship between cash, fintech innovation and regulatory frameworks worldwide. As digital banking and fintechs continue to reshape financial services, what does the future hold for traditional banking models, cash usage and financial accessibility?

Host Charles Green speaks to Clinton Cheng, Global Head of ATM Networks for Visa, in a research-driven conversation that uncovers key insights into how consumer behaviour, economic forces and regulatory developments are shaping the banking industry.

Key topics include:

• The rise of fintechs and the implications for cash and ATMs: The impact of the growth of fintechs like Chime, Monzo and Revolut on traditional banking, including cash access, ATM usage, pre-paid cards and travel spending.
• The response of traditional banks: How traditional banks are rising to the challenge and adapting to a digital-first world with innovative products and services.
• Shifts in consumer behaviour: How digital-only banks are changing how different demographic segments, including Gen Z, Gen X, Millennials and gig economy workers, interact with financial services.
• The cost of cash: The impact of fees, regulations, and branch closures on cash accessibility and what this means for banks and consumers.
• Fintech partnerships and cash access: How digital-first banks like Chime are partnering with networks such as Visa to provide cash access via third-party ATMs.
• Cash deposits and the role of retailers: The growing role of retail locations in enabling cash deposits for digital banks, and the potential for automation through ATMs.
• Branch optimisation: How traditional banks are redefining their branch strategies, focusing on more complex financial services while shifting basic transactions to ATMs.
• Regulatory interventions and banking hubs: How regulators in different markets are stepping in to ensure access to cash and banking services, particularly in rural areas.

And much more.

Listen now to stay ahead of the trends shaping banking’s future.

Westpac’s digital banking strategy has significantly enhanced customer experience, with its mobile app achieving an NPS of 21.7 - one of its best scores to date. With over 5 million customers banking online every month, the app is central to the bank’s vision of offering a seamless, full-service digital experience for customers who choose it. Recent innovations, including enhanced fraud detection, real-time security alerts, and expanded self-service functionality, empower customers with greater control over their banking.  

At the same time, Westpac remains committed to in-person banking, recognising the vital role branches and face-to-face interactions play. With over 500 branches nationwide, Westpac continues to invest in its physical network, ensuring customers have access to expert advice, personalised support and essential banking services. A focus on service culture, deeper customer engagement, and strategic investments in regional banking have strengthened trust and advocacy among customers. 

In this episode of Banking Uncovered, Chloe James, speaks to Jason Yetton, Chief Executive, Consumer at Westpac. They discuss his leadership journey, the role of banks in economic empowerment, and Westpac’s ongoing transformation to better serve customers. Jason shares how the bank has strengthened its commitment to regional Australia, pausing branch closures and investing in digital accessibility to ensure customers in remote areas receive the same level of service. He also emphasises the importance of trust, innovation, and a strong risk culture in delivering long-term value for both customers and employees. 

Topics discussed include:  

• Jason’s leadership approach: His motivation as a leader, how his leadership style has evolved, and the role of culture in building high-performing teams. 
• The power of culture at Westpac: How a strong, purpose-driven culture drives customer experience, employee engagement, and business success. 
• Improving customer satisfaction: The strategies behind Westpac’s rising consumer MFI NPS.  
• The future of bank branches: Jason shares insights on the evolving role of branches, their importance in community banking, and how co-location strategies help sustain physical banking access. 
• Enhancing customer experience in key financial moments: How Westpac supports customers during critical life events, such as fraud prevention, home loan settlements, and financial hardships. 
• The role of relationship managers: How Westpac’s personalised approach to banking, particularly in regional areas, strengthens customer trust and loyalty. 

The property market is experiencing a wave of change, from the recovery of UK lending and the US market emerging from a ‘hibernation period’, to falling housing values in Australia and New Zealand. The dynamics worldwide are shifting. 

RFI research and insights shows UK confidence rising, and over a quarter of homeowners in Australia expected to make additional mortgage repayments within the next year, highlighting improving financial sentiment. This trend, alongside advancements in energy-efficient housing and government incentives for carbon neutrality, is transforming how affordability and sustainability are addressed globally.  

In this episode of the Banking Uncovered Podcast, co-host Chloe James, speaks to Lisa Claes, CEO of CoreLogic International, a leading global provider of property data and insights. They unpack the evolving dynamics of property markets in the US, UK, Australia, and New Zealand, shedding light on what is driving change and what’s next for the home loan sector in each market. Lisa shares her expert perspective on the home loan market in 2024, what to expect in 2025 and why banks and institutions should shift the narrative to focus on “what customers own, not what they owe”. 

Topics discussed include:   

• Housing market dynamics in the US, UK, Australia, and New Zealand, regional differences and recovery patterns 
• Why it is important to talk to customers about what they own, not what they owe 
• The rebound in UK lending after it nearly dried up 18 months ago. 
• Insights into the recovery of consumer confidence, despite the cost-of-living crisis; RFI Global data shows that over a quarter of Australians plan to increase mortgage repayments in the next year 
• The variation in levels of home ownership and legislation by country; 77% of US households say they would never take out a mortgage with a variable interest rate 
• The role of banks and financial institutions in educating consumers 
• Affordability pressures, including the 12-13 years it takes the average earner in Sydney to save for a median-priced home, despite assistance from ‘The Bank of Mum and Dad’. 

For most Americans, their financial institution is the last thing on their minds - they’re too busy navigating pay cheque-to-pay cheque living, rising costs and a housing crisis. What they need from financial service providers isn’t just another product; they need tools that make life simpler, more transparent and fairer. From real-time access to wages to innovative housing solutions like PadSplit, the future of financial services lies in meeting people where they are and empowering them to build better lives.

In this episode of the Banking Uncovered Podcast, Chloe James, Banking Uncovered Co-host, speaks to Kathryn Petralia, Co-founder of Kabbage and Keep Financial, and one of Forbes’ most powerful women in the world. They discuss trends in banking, the biggest challenges in financial services today, the future of fintech and the broader industry, US consumer sentiment, satisfaction and dissatisfaction, global innovation, the gender pay the gap in financial services, and much more.

Topics discussed include:

• The need to make financial services more accessible and less judgmental through data-driven decisions and online platforms
• How to balance innovation with responsibility, including the challenges of unintended consequences in the machine learning model
• Americans' focus on day-to-day financial survival amid the cost-of-living crisis and economic instability
• Innovations in global payments, cross-border banking, and cryptocurrency adoption for consumers and SME’s
• What we can learn from companies like Revolut that are simplifying financial processes and setting new benchmarks for customer experience
• Looking ahead to 2025: Kathryn’s vision for addressing financial needs, empowering individuals to save more and strengthening economies through innovative compensation models.

Customer engagement in banking is shifting from passive loyalty to active engagement, driven by innovation and increasing customer expectations. Today’s customers want banks that understand their unique needs, offer quick and simple account setups, and provide a personalised experience.

But what is the difference between a fabulous relationship and being intrusive?

Banking Uncovered host Chloe James, speaks to Jim Marous, a top 5 retail banking influencer, global speaker, podcast host and co-publisher at The Financial Brand about the evolving landscape of customer experience (CX) and engagement in financial services. They explore how banks must prioritise personalisation beyond broad segmentation and embrace partnerships with fintech’s to offer streamlined, intuitive experiences that build trust and loyalty.

They discuss how traditional banks and fintechs should take advantage of the data they have on their customers, what’s next for innovation in banking, and much more.

In the second of two podcasts, Jim and Chloe dive into the challenges financial institutions face with the rising pressure to embrace personalised, customer-driven experiences in a tech-driven world.

Topics discussed include:

• What customer engagement means today and how to excel
• The importance of personalised engagement and how customers expect banks to understand their unique goals, preferences and financial patterns
• The huge and under-utilised value that data and customer insight bring
• What financial institutions can learn from GPS systems, Amazon Prime and Disney
• The next level of innovation in banking and how to deliver meaningful innovation
• The imperative for convenience and speed

Intention to switch main bank accounts around the world is at an all-time high. In the world’s largest markets, up to 34% of consumers are considering changing their main bank provider. In the US it has never been higher at 25%.

Banking Uncovered host Charles Green talks to Jim Marous, a top 5 retail Banking Influencer, global speaker, podcast host and co-publisher at The Financial Brand, about the market dynamic causing this trend, the proliferation of digital, AI and fintechs. And much more.

In the first of two podcasts Jim and Charles dive into the challenges traditional banks face in keeping up with digital platforms, and the opportunity the data they hold on customers represents.

Topics discussed include:

• Redefining switching: The dynamics behind switching behaviour today and how the definition of switching has changed
• Banking relationships: Why the main bank account is no longer the primary banking relationship
• The rise of PayPal and super apps: How companies like PayPal and other transactional apps have become dominant, and the value of the insights they hold on consumers
• Lessons outside of finance: What financial institutions can learn from the likes of Uber and Airbnb
• The role of AI and Gen AI: How AI is reshaping everything from personalisation to fraud prevention, setting the pace for finance’s future.
• The dawn of fintechs: The growth of fintechs and the importance of personalisation and convenience

Don’t miss part 2, subscribe on your podcast app today.

RAA Insurance won three prestigious awards in the Australian Banking & Finance Awards 2024, Most Recommended General Insurer, Best Motor Insurer and Best Home Insurer. The Awards celebrate the financial service providers who have outperformed their peers, and often exceeded the expectations of their customers. Unlike other awards programmes, winners are determined by customers and are backed by data.

In this engaging episode of the Banking Uncovered Podcast, Chloe James, Banking Uncovered Co-host at RFI Global, speaks to Tara Page, Chief Executive at RAA Insurance about how they achieved customer excellence and how they are addressing many of the challenges the insurance industry is facing worldwide, including the impacts of climate change and cost of living crisis.

By keeping their members' needs at the forefront, RAA Insurance ensures its products offer value for money while addressing affordability and providing quality service.

Topics discussed include:

• The challenges facing the industry including climate change, the cost-of-living crisis and the aftermath of the pandemic
• The impact of economic stress on consumers and the protection gap
• How insurers around the world can learn from each other
• The importance of customer-centricity and designing products that meet consumers’ evolving needs and the importance of membership benefits
• How to offer value-for-money insurance products
• Best practice and innovation in the insurance sector
• Representing the voice of the consumer with government initiatives
• Introducing flexible motor insurance options
• Managing late payments with flexible payment plans
• Enhancing customer experience during claims
• Strategies for maintaining affordable insurance premiums