Trends Report

Disruptors Are Helping Customers With Shared Finances While Most Banks Sit On The Sidelines

People's Interpersonal Financial Relationships Are Complex, But Digital Products And Services Are Revealing Unmet Needs And Opportunities

August 2nd, 2019
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
With contributors:
Benjamin Ensor , Piers Conway , Sam Bartlett

Summary

Shared finances, defined as any situation in which a person acts as an observer of, partner in, or proxy for another person's finances, are an important but often unmet need for millions of customers. In the past three years, new entrants and disruptors have designed services to help people manage their shared finances, while banks have done little. This report outlines shared finances scenarios, lays out examples from firms that are designing for shared finances, and argues that digital business leaders should do more.

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