Digital Customer Proximity: How Collaboration Increases Customer Benefit
From Product to Lifestyle
The financial sector is undergoing a phase of realignment. Customers are increasingly expecting services that are tailored to their life situations and go beyond traditional financial services. The “Innovative Services” trend radar by the Business Engineering Institute St. Gallen exemplifies how banks are responding to this shift and the strategic patterns emerging from it. More than 80 innovative offerings have been identified, with the most exciting developments presented here. The focus is on Europe, but global examples of interesting developments are also included. These offerings are structured according to ten ecosystem areas (https://cc-bei.news/ecosystemradar-des-cc-ecosystems-aktuelle-entwicklungen-und-trends/), and also categorized based on whether they are intended for business or private customers. Additionally, a section labeled “360-Degree Banking” is included in the middle of the illustration, where services from banks are offered across different areas of need.
Trendradar Innovative Services von Banken in zehn Ecosystembereichen
Source: Own representation
Housing – Financial Flexibility and Transparency in Daily Life
In the Housing ecosystem, solutions are emerging that address issues such as the insufficient returns on rental deposit accounts or a lack of liquidity in the context of rental deposits. The startup Evorest, in collaboration with the Hypothekarbank Lenzburg, allows rental deposits to be invested in ETFs (https://de.evorest.ch/?utm_source=chatgpt.com).
Aareal Bank offers a platform for tenants and landlords. In addition to credit checks and a dashboard for landlords, there is also the option to use a rental deposit as a guarantee, helping tenants save liquidity. Landlords benefit from the bank performing the credit checks (https://www.aareal-bank.com/loesungen/corporate-banking/immobilien-kautionsmanagement/kautionsbuergschaft).
BNP Paribas expands its services in the PropTech sector with ColivMe, a platform where customers (often students or digital nomads) can rent rooms and furnished apartments in France. Landlords can manage all relevant processes related to rentals through a dashboard (https://www.finextra.com/newsarticle/34632/bnp-paribas-hatches-intrapreneurial-startup-colivme).
Mobility – Integration and Sustainability as a Service
AMAG Group, in collaboration with PostFinance, introduces fully digital identification in leasing processes (https://amag.media-corner.ch/press/die-amag-gruppe-ist-first-mover-bei-der-digitalen-kundenidentifizierung). When concluding a leasing contract with AMAG, PostFinance customers can confirm their identity during the leasing process without having to leave the application flow.
The Baloise Group expands its mobility ecosystem (abodeinauto, parcandi) through MOBIKO for companies and their employees. MOBIKO enables companies to manage a flexible monthly mobility budget for their employees. Employees can use all available means of transport, from leasing a bike to setting up a private e-charging station (https://www.baloise.com/de/home/news-stories/news/medienmitteilungen/2022/baloise-investiert-in-mobiko-und-erweitert-damit-ihr-mobilitaetsoekosystem.html).
Health – Connecting Financial and Physical Resilience
FitnessBank USA links interest benefits with activity data (https://www.fitnessbank.fit/our-story/). The FitnessBank step tracker app is linked to the customer’s savings or checking account. There are interest rate adjustments for steps – up to 4.5% for 12,000 steps.
Discovery Bank South Africa ties health behavior directly to credit and savings terms through its Vitality Money program (https://www.discovery.co.za/bank/vitality-money-rewards). Activities such as attending health checkups or buying healthy food are rewarded with a variety of incentives.
Financial Freedom – Retirement Planning for Children and Financial Education
A trend is emerging, especially among neobanks, targeting children and young adults. Trade Republic makes long-term saving easier with the Child Savings Account (https://traderepublic.com/en-de/child-savings-account). Monthly contributions can also be used for fractional shares. The account can also be seen as a preparation for early retirement in Germany. From 2026, children and young people up to 18 years old will receive 10 euros per month if they attend a German educational institution. A similar construct is offered by TrueWealth in Switzerland (https://www.home.saxo/de-ch).
HSBC UK offers financial well-being checks & training not only for employees but also for employees of other companies, regardless of whether these companies are customers of the bank (https://www.business.hsbc.uk/en-gb/solutions/financial-wellbeing). The program includes a wide range of webinars covering topics from budgeting to retirement planning. Webinars are offered via Zoom, and financial checks are conducted by phone.
Nutrition and Consumption – Focus on Cash-Back Programs & Discounts
Various banks offer cards linked to cash-back programs and other discounts. These range from retail and online shop discounts to exclusive event access.
Leisure – New Emotional Connections
Deutsche Bank integrates payment functions for Eintracht fans in their fan app mainaqila (https://www.deutsche-bank.de/pk/lp/eintracht/mainpay.html). With the mainaqila app, the mainpay function can be added, enabling contactless payments. Fans can easily link their existing checking accounts from various banks. Another provider in the fan environment is VR Bank Südliche Weinstrasse-Wasgau eG with their “Teufelskarte” for 1. FC Kaiserslautern.
Revolut aims to become the all-in-one travel companion and expands its offerings to include an eSIM travel function (https://www.revolut.com/de-DE/esim/). In addition to the eSIM, there are other premium services such as insurance, cashbacks, and lounge access. N26 also offers an eSIM, but with fewer additional services than Revolut.
Work – Support for Career (Re)Entry
Sparkasse Austria helps young people enter vocational training (https://www.sparkasse.at/bludenz/spark7/spark7-vorteile/oesterreichweit). The services range from job coaching for exam preparation to job boards – including internships.
UBS supports professionals re-entering the workforce, either full-time or part-time (https://www.ubs.com/global/en/careers/professional-careers/career-comeback.html). Support is offered regardless of prior employment with UBS. The idea is likely to address the shortage of skilled workers by opening the door to qualified re-entrants.
Business Services – Easing Startup and Operational Challenges for SMEs
Various banks assist entrepreneurs, e.g., through online startup services and by providing contact persons during the startup phase. Even “older” businesses receive support, such as project planning via apps or discounted business banking software.
360°-Banking – Integration as a Strategic Positioning for Specific Target Groups
Vivid is on its way to becoming an integrated solution provider for SME services. Since its strategic realignment last year, it has gained 50,000 SME customers over the past 16 months. In addition to intelligent card and cash-back solutions, they offer centralized and modular financial management. Additional help with invoicing and tracking, as well as financial management, expands their offering.
Twint is evolving in Switzerland from a payment app to a lifestyle platform (https://www.twint.ch/). In addition to peer-to-peer payments and splitting, digital vouchers, parking fee payments, super deals, insurance sign-ups, and many other services are available.
Conclusion – Banking to Eliminate Pain Points – Often in the Context of Connected Lifestyles
The innovative services presented here all address specific pain points of both private and business customers in their respective fields. In the business customer segment, the focus is on eliminating process inefficiencies (integration & data exchange) and optimizing processes (e.g., dashboards for property managers, expense management). For private customers, individual aspects (e.g., liquidity shortages, support in the workplace) are addressed.
The theme of integrating services and solving problems is gaining further importance. Some banks are positioning themselves as platform providers or orchestrators – although this theme is often in the background: Baloise in mobility, BNP in housing, Twint in various areas, neobanks in leisure, and Vivid focusing on SMEs.
