Cardholders are expecting more from their digital banking. What will it take us to get there?: 5 questions with Mastercard's Melanie Fuller - Tearsheet

In the past few years, how have consumers' relationship with their money evolved? Is this causing a change in what they expect of their banks? Fuller, Mastercard: So, I think about how we used to say 'count your pennies' to mean managing your budget. But for the younger generation, this wouldn't make much sense to them. First, their bank app is taking care of all the 'counting' for them, and most people don't carry much cash-if any-to even count. Most of our money is digital, so much so that some countries aren't even making the penny anymore, and this is changing the way people view their finances and how they expect to manage them.

Fuller argues that the digital banking app needs to push into spaces that are currently causing consumers the most friction: post purchase tasks. While the subscription economy focuses on making the purchase funnel as smooth as possible, once the cycle is complete, consumers are thrust into post-purchase workflows that don't focus on their convenience. This conversation seeks to break down how consumers' relationship with money has evolved, and how this impacts their expectations of banking services.

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