What’s in store for the next decade of banking: Why human-centric design will win

The race to digitize banking has created an unexpected conflict. While banks have never been more technologically advanced, they've also never felt more disconnected from their customers. Where traditional banks relied on face-to-face interactions, today's mobile-first reality requires something more sophisticated: the ability to create emotional connections through software and interfaces.

This approach of simply replicating services in digital form is rapidly becoming obsolete.

This is because the rising generations of Millennials and Gen-Z don't just want digital banking–they want banking that understands them, adapts to their needs, and helps them achieve their goals. For these customers, a bank's mobile app isn't just a service channel–it's their primary way they reflect upon their financial situation.

As we enter the next decade of banking, a profound shift is underway. Forward-thinking institutions are moving beyond the technology-first mindset to embrace human-centric design–an approach that puts real people at the center of the process. This isn't just creating better user interfaces or adding more features–it's fundamentally rethinking how banking can serve human needs in the digital age.

The mobile-first revolution

Most banks have approached mobile banking as an information delivery system, focusing on providing features and data. However, research from the field of behavioral economics shows that financial decisions are governed primarily by emotions, not information. This fundamental truth about human behavior shapes everything from saving habits to spending patterns. We make financial choices based on how we feel, what motivates us, and what brings us immediate satisfaction—not just on numbers on a screen.

This disconnect is particularly evident with Millennials and Gen-Z, who don't see their bank as a branch anymore–-their bank is the mobile app. These generations have grown up with technology that learns, adapts, and responds to their preferences. They expect the same from their banking experience. Yet most banks still treat their apps as simple transaction platforms rather than relationship-building tools, creating a growing gap between what younger customers expect and what banks deliver.

Success requires moving beyond the industry's traditional focus on PFM (Personal Financial Management) tools and balance sheets to create experiences that engage customers on a deeper, more human level. Over the next decade, this gap between traditional banking apps and customer expectations will only widen. Banks that fail to bridge this gap through human-centric design risk becoming increasingly irrelevant.

Yet this mobile revolution is just one part of a larger transformation. As banks master the art of digital relationships, they're discovering an even more powerful truth about the future of banking...

Financial wellbeing that drives growth 

Banks are awakening to a truth that will define the next decade of banking: squeezing every penny from customers through fees and predatory products is not just ethically questionable—it's bad business. 

The future of banking lies not in short-term profit extraction, but in the long-term value created when customers achieve genuine financial wellbeing. When customers improve their financial health, everyone wins. Our internal research data shows that 73% of users feel better about their finances after just two months of using platforms focused on financial wellbeing. These emotionally engaged customers save more (an average of €2000 extra per year), are more likely to qualify for mortgages and other financial products, and build stronger, longer-lasting relationships with their banks.

Perhaps most compelling is the impact on financial inclusion; when banks invest in their customers' financial health, they expand their addressable market. Our data shows  28% of people using our behavioral science-based financial platforms had no savings habit before. By helping these customers build healthy financial behaviors, banks aren't just doing good—they're growing their deposit base and creating future opportunities for mortgages, investments, and other services.

This shift is forcing banks to rethink their entire product portfolio. Traditional credit products are being reimagined with customer wellbeing in mind. Instead of promoting immediate gratification and debt accumulation, forward-thinking banks are creating products that encourage thoughtful consumption and long-term financial stability. They're discovering that when you help customers make better financial decisions, they don't just save more—they trust more, engage more, and ultimately, bring more value to the bank.

This evolution in banking's business model naturally leads to another crucial shift. As banks prioritize customer wellbeing, they must fundamentally rethink how they understand and serve each customer.

Banking that understands its customers

The absurdity of traditional bank marketing becomes clear when you consider a bank's tendency to treat customers as demographic data points rather than individuals with unique needs, dreams, and life stages. With banks sending out mass offers to all customers that fall under a demographic point, often they will show offers that are irrelevant for the end-user. 

True personalization in banking isn't about segmenting customers into broad categories–it's about understanding and responding to their individual journeys. Forward-thinking banks recognize meaningful signals–like consistent saving patterns for a down payment, wedding planning, or preparation for a child. They can then provide timely, relevant support ranging from specialized savings tools to insurance products that align with these life moments.

The key to building these lifelong relationships lies in understanding that banking needs evolve with life stages. A customer saving for their first home has fundamentally different needs than one planning for retirement or starting a business. This intent-based approach transforms banking from a series of transactions into a journey of shared progress and understanding.

As customers become increasingly accustomed to hyper-personalization in other aspects of their digital lives, banks that fail to deliver this level of personalization will struggle to remain relevant. While this vision is compelling, achieving it at scale requires a sophisticated marriage of technology and human understanding.

Technology that builds trust

While technology is sometimes viewed as making banking more impersonal, it holds the potential to create more human experiences at scale. The secret lies not in the technology itself, but in how we use it—not to replace human connection, but to enhance it through behavioral science and psychological insights.

Modern banking technology must go beyond traditional information display by understanding that money is emotional, personal, and social. By leveraging behavioral science and psychological insights, banks can transform raw data into meaningful experiences that speak to both heart and mind, creating digital interactions that truly resonate with how people interact with their finances.

The real power emerges when behavioral science meets predictive analytics. Banks will be able to anticipate customer needs and aspirations, not just through demographic data or transaction history, but through understanding patterns of behavior and intention. This enables them to provide support that feels personal and timely, even at massive scale. When a customer starts saving regularly for the first time, the technology doesn't just note the behavior—it recognizes this as a key moment to reinforce positive financial habits through encouragement and guided next steps.

But perhaps most importantly, this technology helps build trust through understanding. By making each interaction feel personal and emotionally intelligent, banks can create digital experiences that strengthen relationships rather than dilute them. The results speak for themselves: Our data shows 59% of users feel more confident about their finances after just two months of using our thoughtfully designed banking platform. This demonstrates that technology engineered with deep behavioral science expertise can create genuine connections and drive positive change in ways generic solutions cannot.

In the next decade of banking, success won't just be about having the most advanced technology—it will be about having technology that best understands and serves human needs, emotions, and aspirations. The winners will be those who use technology not to automate banking, but to make it more human.

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The coming years of banking will be defined by how well institutions can weave together these fundamental shifts–from mobile-first relationships and financial wellbeing to personalization and emotionally intelligent technology. Success won't come from excelling in just one area, but from creating a cohesive banking experience that puts human needs at its center. 

In this new era, human-centric design isn't just a competitive advantage—it's the key to survival and success in banking's next chapter.