How banks can turn a lack of financial literacy into added value

Our white paper highlights the lack of financial knowledge among ordinary people and identifies the associated business relevance for banks. How can banks help their customers to manage their finances better? What priorities should be set, and what existing best-practice approaches and real-life use cases are available? What are the opportunities offered by approaches such as hyper-personalisation, gamification and the metaverse megatrend? 

Our survey shows that “62% of respondents would be willing to change banks if they offered appropriate services”

A survey commissioned by Zühlke has shown that many bank customers in German-speaking countries are lacking in financial literacy and either don’t have suitable financial strategies for wealth creation or aren’t implementing them properly. Significant differences are evident in this context that reflect socio-demographic factors. From this, we can determine five different types of people when it comes to finance.  

This baseline situation has great business relevance for banks, as the survey clearly shows that new services and offerings in this area would offer financial service providers great potential for differentiation. Against the backdrop of the rise in global inflation, how can banks help their customers to manage their finances better? What priorities should be set, and what existing best-practice approaches and real-life use cases are available? What are the opportunities offered by approaches such as hyper-personalisation, gamification and the metaverse megatrend? 

Download the financial literacy publication by Zühlke now and benefit from its valuable insights. 

Jan-Philipp Koch

Jan-Philipp Koch

Head of Banking Sector

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As an innovation partner, Jan-Philipp supports banks and other financial services companies in the development of data-driven business models and digital solutions and processes. He brings experience as a consultant from a technology and management consulting firm and thus extensive knowledge in the areas of Data, Machine Learning and Blockchain.

Stefan Hirzel, Head of Banking, Zühlke Switzerland

Stefan Hirzel

Head of Banking Switzerland

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Stefan Hirzel joined Zühlke in 2013 and is responsible for the banking business for Zühlke Switzerland. He is a technology enthusiast and a passionate entrepreneur. Stefan is particularly fascinated by the financial industry, where he brings in his two traits day after day, and in close collaboration with our customers.  

Julia Übeleis

Julia Übeleis

Industry Lead FSI Austria

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Julia Übeleis holds a degree in economics and has dedicated herself to the topics of digitalization, innovation and regulation for over 20 years. As Business Development Manager, she is responsible for the Financial Services Industry Market Unit at Zühlke Austria since 2022. Prior to that, she was responsible for the successful implementation of strategic projects in banking and insurance companies as well as in management consulting for clients in financial services. For her, Heraclitus' motto is particularly significant: The only constant is change.