Category: Analysis & Opinions
Top Banking Trends 2024
As we approach 2024, digital banking is set for substantial changes, influenced by emerging trends [...]
Prospect Theory | Behavioural Science in Banking
Have you ever found yourself in a situation where you’re left wondering why you opted [...]
How to Enhance Digital Banking Experiences to Boost Deposits
In today’s competitive world of banking, financial institutions such as banks, credit unions and large [...]
Sunk Cost Fallacy | Behavioural Science in Banking
Are you one of those people who can’t seem to give up on something you [...]
Why Marketing Automation Alone Falls Short for Financial Institutions
Marketing automation can undoubtedly be a powerful tool for enhancing customer engagement and streamlining marketing [...]
Choice-Supportive Bias | Behavioural Science in Banking
Have you ever made a decision, and then later found yourself defending that decision even [...]
The Power of Gift Cards: Driving Engagement in Digital Banking
In the ever-evolving landscape of digital banking, customer engagement has become a top priority for [...]
Mental Accounting Bias | Bitesize Behavioural Science
Does money always mean the same thing to us? Or do we respond differently to [...]
Tiny Habits | Behavioural Science in Banking
Imagine this, you have just signed up for your first full marathon. 42 kilometers. 26.21 [...]
Autonomy Bias | Behavioural Science in Banking
What is autonomy bias? Do you find yourself ignoring advice and recommendations even when they [...]
Endowed Progress Effect | Behavioural Science in Banking
To understand how the Endowed Progress Effect can be applied to banking use cases as [...]
The Transparency Effect | Behavioural Science in Banking
In Nudge, Thaler and Sunstein introduced nudges as a manner of encouraging better decision making [...]
Salience Bias | Behavioural Science in Banking
What is salience bias? Our choices are driven by the information that is communicated to [...]
Social Proof | Behavioural Science in Banking
Imagine this: you are looking to buy a new pair of walking shoes. You go [...]
The Default Effect | Behavioural Science in Banking
When it comes to decision making, people are sometimes lazy. Decision fatigue is a very [...]
The Certainty Effect | Behavioural Science in Banking
Have you ever been in a situation where your conviction about an issue makes it [...]
Open Finance: Defined
Despite Open Banking being available in the market for quite some time now, consumers still [...]
Rewards | Behavioural Science in Banking
We know that financial wellness is intrinsically linked to overall wellbeing, and as such, forming [...]
Confirmation Bias | Behavioural Science in Banking
As rational human beings, we would like to believe that our opinions and viewpoints are [...]
The Framing Effect | Behavioural Science in Banking
Our decisions vary substantially based on how we receive, perceive and understand information. The same [...]