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Banking Top 10 Trends for 2022

January 5, 2022

4-MINUTE READ

In brief

"I see an incredible future for banking. I see this as a discontinuity, a point in time that we're going to recognize, looking back, as the moment when everything changed fundamentally. It’s going to be a different world going forward."

— MICHAEL ABBOTT, Senior Managing Director – Global Banking Lead

Banking Top 10 Trends for 2022

1. Everyone wants to be a super-app

Super-apps are dominating more aspects of the digital world and human interaction. Banks face a high-stakes choice to compete or collaborate.

2. Green gets real

As ESG concerns grow, banks are being urged to become guardians of our planet. There will be costs—but the returns are sure to make it worthwhile.

3. Innovation makes a comeback

To keep up with fintechs and other competitors, banks are rediscovering their creative mojo and asking a simple, powerful question: “Why not?”

4. Fees… a magical mystery tour

“Free” products from digital-only challengers and BNPL firms are forcing banks to be more transparent—and more creative—with fee structures.

5. The digital brain gets a caring heart

Banks are looking for ways to have meaningful conversations with customers in digital spaces. Technology like AI can help make the human connection.

6. Digital currencies head for college

With crypto currencies here to stay, experiments like CBDCs are gathering momentum. The search is on for use cases that prove the economic benefits.

7. Smart operations put zero in their sights

Artificial intelligence and machine learning in banking now surpass humans in some tasks. Applying this tech will bring zero waste operations within reach.

8. Payments: anywhere, anytime … and now anyhow

The next payments revolution will stem from open networks, which empower banks to reimagine their payments offerings for newly-demanding customers.

9. Banks get on the road again

The search for growth will include international markets in 2022. Expect cross-border players to seek out digital banks positioned to attack.

10. The war for talent intensifies

The pandemic disrupted the supply chain for banks’ most critical asset: talent. Competition is rising. Winners will transform themselves as employers.

Accenture Banking Top 10 Trends: A look back

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