Survey Finds Consumer Interest in Embedded Financial Solutions and AI Tools for Enhanced Customer Experiences

The rise of embedded financial solutions has captured the attention of consumers, as revealed by a recent survey conducted by Marqueta. This survey aimed to understand consumer preferences in financial solutions and shed light on their expectations and concerns. The findings provide valuable insights for businesses seeking to enhance customer experiences and promote financial empowerment.

Embedded Financial Solutions and Wage Access

Embedded financial solutions, particularly those offering accelerated wage access, have piqued the interest of consumers. The survey discovered that an astonishing one in five US consumers (21%) would willingly forfeit a full week of paid time off in exchange for daily access to their wages. This indicates a significant desire for financial flexibility and convenience among consumers who value instant and easily accessible financial services.

Importance of Checkout and Payment Experience

The survey findings also unveiled an intriguing trend regarding consumer preferences. Surprisingly, 85% of respondents stated that the checkout or payment experience holds greater importance to them than a company’s corporate values or social positions. This shows that delivering a seamless and efficient payment experience is paramount to consumers. In an era where competition is fierce, companies must recognize that a subpar checkout experience can result in lost customers and a negative brand perception.

Today’s market demands a stellar customer experience

Now more than ever, there is no room for anything less than a stellar customer experience. Consumers have come to expect convenience, speed, and transparency in their financial interactions. Companies that fail to meet these expectations risk losing customers to competitors who excel in delivering outstanding experiences. In today’s saturated market, businesses must differentiate themselves through exceptional customer service and user-friendly financial solutions.

Concerns about recession and changing financial habits

The survey also shed light on consumers’ apprehension regarding an impending recession, with a staggering 86% expressing concerns. This heightened anxiety has prompted significant shifts in financial behavior, with 67% of consumers adopting new habits to reduce spending. From limiting discretionary purchases to increasing savings, individuals are actively adjusting their financial strategies to weather uncertain economic times. Businesses must take note of these concerns and find ways to alleviate financial stress while providing value to their customers.

Adoption of generative AI tools

The survey findings revealed interesting variations between US and UK consumers regarding the adoption of generative artificial intelligence (AI) tools. US consumers demonstrated greater openness towards using AI tools for various financial purposes. Specifically, more than 50% of individuals under the age of 50 expressed interest in leveraging AI for financial planning. This suggests that younger customers are not only more inclined to embrace AI but also present a significant market segment for businesses to cater to.

Preference for AI among younger customers

In line with the above findings, the survey also indicated that younger customers are more likely to be open to using AI tools compared to their older counterparts. This presents an opportunity for businesses to design customer-centric AI solutions that cater to the needs and preferences of younger demographics. By incorporating AI capabilities into their financial offerings, companies can create personalized experiences, streamline financial planning, and enhance customer satisfaction among this target audience.

The survey conducted by Marqueta provides valuable insights into consumer preferences and expectations in financial solutions. The findings emphasize the importance of prioritizing customer experience, financial empowerment, and loyalty-building strategies. Businesses must recognize the value of embedded finance solutions, such as accelerated wage access, to meet the evolving needs of consumers. Additionally, incorporating generative AI tools targeted at younger customers can further elevate customer experiences and increase brand loyalty. By continuously adapting to customer demands and preferences, companies can stay at the forefront of the financial services industry and drive success in a highly competitive market.

Explore more

Generative AI Transforms Finance with Automation and Strategy

This how-to guide aims to equip finance professionals, particularly chief financial officers (CFOs) and their teams, with actionable insights on leveraging generative AI to revolutionize their operations. By following the steps outlined, readers will learn how to automate routine tasks, enhance strategic decision-making, and position their organizations for competitive advantage in a rapidly evolving industry. The purpose of this guide

Why Is Employee Career Development a Business Imperative?

Setting the Stage for a Critical Business Priority Imagine a workplace where top talent consistently leaves for better opportunities, costing millions in turnover while productivity stagnates due to outdated skills. This scenario is not a distant possibility but a reality for many organizations that overlook employee career development. In an era of rapid technological change and fierce competition for skilled

Creating Safe Spaces for Workplace Questions and Curiosity

What happens when a brilliant idea dies in a meeting room because someone feared asking a simple question? In numerous workplaces today, the relentless drive for efficiency often drowns out curiosity, leaving valuable insights unspoken and costing organizations more than just time by stifling innovation and eroding trust among teams. Picture a scenario where an employee hesitates to clarify a

Which Companies Are Hiring for Hybrid-Remote Jobs in 2025?

I’m thrilled to sit down with Ling-Yi Tsai, a seasoned HRTech expert with decades of experience in transforming organizations through innovative technology. Ling-Yi specializes in HR analytics tools and the seamless integration of tech solutions in recruitment, onboarding, and talent management. Today, we’re diving into the evolving landscape of hybrid-remote work models, exploring their benefits and challenges, the industries leading

How Are Large Enterprises Scaling Data Engineering Challenges?

I’m thrilled to sit down with Dominic Jainy, a seasoned IT professional whose expertise in artificial intelligence, machine learning, and blockchain has positioned him as a thought leader in navigating the complexities of modern data landscapes. With a passion for applying cutting-edge technologies across industries, Dominic brings a wealth of insights into how large enterprises can scale their data engineering