Highlights

• Banking, financial services & wealth management industry updates
  • The financial services continue to push for growth. Customer acquisition has been growing in scale and sophistication.
  • Consumer spending continues at a record level coupled with high payment rates. Consumer spend is well above pre-pandemic levels in all segments except travel. Banks are seeing small increases in balances but the expectation is that balances will eventually grow as the impact of Govt. spending winds down and consumers continue to spend.
  • Digital customer engagement has seen a sustained growth, showing that the change in customer behavior fueled by the pandemic is here to stay. Banks and financial services companies continue to keep their focus on adding digital capabilities to serve this digitally inclined customer base.
• Performance marketing platforms updates
  • The pandemic, and the resultant digital-first mindset, has had a net positive effect on all platform companies – including Google, Apple, Facebook, Amazon and Microsoft. The Q3 2021 earnings highlight continued positive momentum in these firms, driven by this digital user shift
  • Apple’s privacy update to iOS impacted targeting across platforms. Facebook, Shopify and YouTube noted how the update suppressed the ability to track the effectiveness of their spend and as a result, caused lower spend.
  • Focus on privacy continues in preparation for a cookie-less world.
• Key insights from iQuanti’s thought leadership webinars conducted in Q3 2021