More Data, More Power to Future Proof Your Business

As we kick off the new year, it’s the perfect time for financial providers to reflect back on the previous year and assess how well they’re positioned to meet their goals and assess their future-readiness strategies.

A group of industry leaders recently shared their insights into how to win in the evolving financial industry at Money Experience Summit 2025. The panelists shared their thoughts on the industry’s latest trends — and how to turn those into real opportunities for growth today and in the future.

The long-term success of any financial services organization hinges on one essential thing: data. By fully tapping into the power of consumer-permissioned financial data, financial providers can prepare for a strong future that helps them win customer loyalty, drive growth, and deliver better experiences.

When institutions fully understand who their customers are, how they are spending their money, and what products they need, they can provide a completely personalized financial experience, more relevant insights and offers, and more. Consumers gain clarity and intelligence to better manage their financial lives. And, financial providers win customer trust, loyalty, and business — powering their growth for the future. 

And, more data sets up financial institutions for an even brighter future. As U.S. Bank’s Kirk Benson said, “I think there is more data in experiences now than 5 years ago, and there'll be way more 5 years from now.” As financial institutions continue to leverage data for more data-driven, personalized financial experiences, the entire industry will benefit. 

Artificial Intelligence

When it comes to questions of future preparedness, artificial intelligence (AI) is the go-to answer for the majority of businesses. But, AI alone won’t solve everything. As Narmi’s Chris Griffin shared, AI initiatives often fail — sometimes at a very high rate. The good news is that AI initiatives are generally a low-cost and low-stakes way to experiment. So, how can financial institutions set themselves up for the highest rate of success when it comes to AI? 

The answer is in the data. Financial institutions that use the right data will create better outcomes. If providers use generic data to train AI models to give financial advice, consumers will receive generic, impersonal advice. On the other hand, when providers use enhanced, consumer-permissioned data to train AI models, consumers will receive personalized financial advice that actually makes a difference.

Digital Payments

The way money moves continues to rapidly evolve. Today, digital currencies are taking center stage. For instance, stablecoin — a digital currency designed to maintain a stable currency — has become a popular topic of conversation. 

Seventy-eight percent of consumers would be open to trying stablecoin and other digital currencies if offered by their bank, according to ABA Banking Journal. 

However, while there is a significant rise in requests for stablecoin from consumers, friction remains as financial institutions attempt to understand the best use cases. But, businesses can’t afford to wait to see how stablecoin adoption plays out. 

Kirk shared that he believes every bank will end up with some kind of stablecoin. Financial institutions can decide to react once others adopt it, or they can be the trendsetters. And those who figure out the best way to leverage cryptocurrencies as part of their 2026 strategy will gain even more valuable data-driven insights to fuel the future. 

Open Banking

Open Banking is the top strategy that forward-facing financial institutions employ. Through Open Banking, financial institutions can help their customers connect their financial accounts and get a more holistic view of their financial life. Additionally, financial institutions can use Open Banking to better understand who their customers are, where they have open accounts, and what financial needs they may have.

Chris pointed out the great need for Open Banking because of the high number of financial accounts that consumers have open (MX research shows 47% of consumers have 3 or more financial accounts), “Everyone wants to see their aggregated financial picture and no bank is really serving the needs of every individual consumer and business.”

Financial institutions that want to be ready for the future should make Open Banking a priority — regardless of the regulations. Penny Lee, CEO at the Financial Technology Association, said, “We should be aspirational in how we treat a customer or a consumer here in the United States to allow them to have a better financial experience than anywhere else in the world.” 

By capitalizing on data within the industry’s top innovations and trends, financial providers will be poised to win today and in the future. Watch the full panel discussion here.