The "Great Wealth Transfer" is coming — and it's something financial institutions need to be prepared for.


As financial institutions prepare for the Great Generational Wealth Transfer, they should focus on digital banking experiences.

Preparing for the Great Generational Wealth Transfer with Digital Experiences

If you&rsquo;ve spent any time on TikTok or X lately, you&rsquo;ve likely seen the memes. The "okay Boomer" sentiment has evolved into something more specific: a hyper-awareness of the generational wealth gap and impending rollover. The "Great Wealth Transfer" has officially entered the mainstream discussion, moving from whitepapers to dinner table conversations and viral threads about inheritance anxiety.
But for financial institutions, this isn&rsquo;t just cultural chatter. It&rsquo;s real &mdash; and something financial institutions need to be prepared for.
<a href="https://www.cerulli.com/press-releases/cerulli-anticipates-124-trillion-in-wealth-will-transfer-through-2048">An estimated $124 trillion is projected to change hands between generations by 2048.</a> This is the largest movement of capital in history. For banks and credit unions, it poses an existential question: When that money moves to a new generation, will it stay in your institution?
The data suggests that unless you modernize your digital experience, the answer is likely "no."
<h2>The New Owners of Capital Are Different</h2>
The beneficiaries of this transfer are not looking for the same banking relationship their parents had. They don&rsquo;t value physical branches or handshake relationships in the same way. They value speed, clarity, and digital intuition.
<ul>
<li style="font-weight: 400;" aria-level="1">Who they are: The primary recipients are Millennials (now entering their peak earning years) and Gen Z. These are digital natives who have never known a world without instant information.</li>
<li style="font-weight: 400;" aria-level="1">What they do: <a href="https://www.cerulli.com/press-releases/aging-boomers-bring-intergenerational-planning-to-the-forefront">Research</a> indicates that up to 70% of heirs switch financial advisors or institutions after inheriting wealth. Why? Because the legacy provider didn&rsquo;t serve them &mdash; it served their parents.</li>
</ul>
<h2>The New Generation Expects Next-Level Digital Experiences</h2>
According to recent MX consumer research, the bar for digital excellence has shifted from "nice-to-have" to "non-negotiable."
<ul>
<li style="font-weight: 400;" aria-level="1">Mobile Is the Main Branch: <a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">For 54% of consumers, their mobile banking app isn&rsquo;t just a tool. They say they "can&rsquo;t live without it."</a> If your app is clunky, you aren&rsquo;t just inconveniencing consumers &mdash; you are failing at their primary method of financial interaction.</li>
<li style="font-weight: 400;" aria-level="1">Zero Tolerance for Friction: Loyalty is fragile. <a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">MX data shows that 58% of consumers would switch providers if the mobile experience was bad.</a></li>
<li style="font-weight: 400;" aria-level="1">They Want to Be Known: <a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">61% of consumers want their financial provider to know them and proactively show it.</a> They don&rsquo;t want a static ledger of transactions; they want wealth visualization. They expect their bank to act as a GPS for their money, offering personalized insights, budgeting help, and financial literacy tools that interpret their data for them.</li>
</ul>
The newly wealthy generation wants to fully understand their financial health at a glance.
<h2>The Problem: Ripping and Replacing Everything</h2>
Many financial institutions get stuck as they attempt to start from a blank slate and adapt their strategies for Millennials and Gen Z. You know you need a modern experience to capture this next generation, but your data is locked inside a legacy core system that is decades old. The prospect of a "rip and replace" core conversion is terrifying &mdash; it&rsquo;s costly, risky, and takes years. And, it&rsquo;s overwhelming to consider starting over.
But there is good news. You don&rsquo;t have to replace your core to modernize your experience.
<h2>The Solution: The Modernization Layer</h2>
To win the Great Wealth Transfer, you need a modernization layer. This means that you can start with the data foundation you&rsquo;ve built upon your core as you bring in key innovations for the next generation.
By utilizing <a href="https://www.mx.com/products/data-enhancement/">data enhancement tools</a> and a <a href="https://www.mx.com/products/mobile-banking/">modern mobile platform</a> (like MX), you can build a modernization layer that sits on top of your existing infrastructure. This allows you to:
<ol>
<li style="font-weight: 400;" aria-level="1">Clean and Enhance Data: Turn messy transaction strings into clear, readable merchant names and logos that younger users expect.</li>
<li style="font-weight: 400;" aria-level="1">Visualize Wealth: Deploy money management tools that auto-categorize spending and visualize net worth &mdash; features that attract and retain younger, tech-savvy high-net-worth individuals.</li>
<li style="font-weight: 400;" aria-level="1">Launch Fast: Instead of a 5-year core migration, you can roll out world-class mobile features in months.</li>
</ol>
The Great Wealth Transfer is underway. To keep and expand this client base, your digital experience must meet the high expectations of Millennials and Gen Z. MX helps financial institutions deliver the seamless, hyper-personalized mobile interactions this generation demands. By aggregating held-away assets and enriching data, MX provides a single, cohesive view and actionable intelligence. Integrating intuitive financial wellness tools into the mobile interface offers the transparency and control this demographic expects, deepening loyalty and driving financial strength now and into the future.&nbsp;
<a href="https://www.mx.com/request-demo/">Discover how you can use your financial data to grow your business and prepare for the shifts across the industry with MX.</a>

The Great Wealth Transfer Is No Longer a Forecast. It’s Your New Retention Strategy.

At the Financial Brand Forum 2026, industry leaders discussed how financial providers can drive growth with agentic AI.

At the Financial Brand Forum, James Dotter and Derek White discussed the role that agentic AI has in driving growth across today’s financial system.

The Role of Agentic AI in Modernized Banking

Artificial intelligence (AI) adoption across the financial industry is accelerating, with a strong focus on strategic growth. In 2023, financial services firms spent $35 billion on AI, with projected investments across banking, insurance, capital markets and payments businesses expected to reach $97 billion by 2027 &mdash; <a href="https://www.weforum.org/publications/industries-in-the-intelligent-age-white-paper-series/financial-services/">according to the World Economic Forum&rsquo;s report on AI in financial services</a>. These numbers prove that AI is already having a strong impact on the financial services industry. And, its presence presents a significant opportunity in the coming years.&nbsp;
<h2>The Current Landscape of Agentic AI</h2>
<a href="https://www.ey.com/en_us/insights/banking-capital-markets/ai-in-banking-ey-parthenon-genai-survey-insights">EY conducted a survey</a> to see where financial institutions are currently at with their AI-adoption strategies. It found that 77% of banks have soft launched GenAI applications, while only 31% have moved forward with implementation of agentic AI solutions.
While GenAI is a stepping stone for financial institutions to drive back-office efficiency, agentic AI is entering the scene to drive impactful growth and revenue. This transition was discussed in a session at the Financial Brand Forum 2026 with <a href="https://www.mx.com/">MX&rsquo;s</a> Chief Business Officer, James Dotter, and <a href="https://primitive.com/">Primitive&rsquo;s</a> Founder and CEO, Derek White.
<img src="https://cms.mx.com/assets/a36b2b37-3eff-4cd7-a594-1400b6abfd43?width=4032&amp;height=3024" alt="Img 3042" />
White pointed out a key distinction between the two types of AI. Generative AI injects global intelligence into an organization, while agentic AI is designed to amplify and inject new work, acting on your behalf. He hypothesized that in the very near future, banks will have more AI agents than human employees &mdash; increasing their ability to make an impact.&nbsp;
Here are a few key ways that financial institutions can find success as they step into the world of agentic AI:
<h2>Using the Right Data and the Right Models</h2>
As financial institutions assess their current AI strategies, they must focus on accuracy. This means accuracy in data and accuracy in models.
As Dotter stated, "Any model, whether it's a basic statistical algorithm or an AI agent, is only as good as the data that it ingests. If it's garbage in, it will be garbage out." Financial institutions that want to maximize their growth potential with powerful agentic AI will have to ensure that the data feeding these models is <a href="https://www.mx.com/blog/what-is-data-enhancement/">enhanced, cleansed, and usable</a>. The foundation for any model is quality data.&nbsp;
Additionally, financial providers should identify when probabilistic or deterministic models should be used &mdash; because they each have different strengths. For example, probabilistic models can be powerful tools for predicting theoretical outcomes. Alternatively, when you already know the answers, a logic-based, deterministic AI model prevents you from relying on guessing.&nbsp;
Ensuring high data quality &mdash; while using the right model &mdash; will help financial providers unlock greater potential with agentic AI.
<h2>Enhancing AI Capabilities to Drive Revenue</h2>
Financial institutions that adopt agentic AI are able to enhance human capabilities to drive revenue. Agentic AI can enhance the capabilities of a single employee, putting global intelligence at their fingertips to quickly identify and act on growth opportunities.
Dotter highlighted the depth of engagement that agentic AI brings, saying, "When we start thinking about this evolution into agents, it expands the personalization in an incredible way. All of a sudden it starts to get soulful with these agents." As institutions look to bring agentic AI into their strategic planning, they&rsquo;ll be able to create even more personalized experiences.
As part of the discussion, Dotter and White illustrated how this dynamic could look when done correctly. <a href="https://www.mx.com/news/primitive-launches-ai-agent-operating-system/">Primitive recently launched its AI agent operating system</a> &mdash; providing financial providers worldwide with access to AI that will drive revenue. Primitive&rsquo;s partnership with MX equips financial institutions with the ability to leverage <a href="https://www.mx.com/news/architecture-of-action/">MX&rsquo;s Growth Agent</a> to reduce the manual work in identifying opportunities for growth &mdash; like consumers that are ready for <a href="https://www.mx.com/case-studies/driving-mobile-growth/">deposit switches</a>.&nbsp;
<h2>Making AI Work from Any Starting Place</h2>
Businesses everywhere are at different stages of AI adoption. Even if you have yet to make significant AI moves, it&rsquo;s not too late to get started. But, there are key building blocks that will help you prepare for the next stage of AI. Upon laying <a href="https://www.mx.com/products/data-enhancement/">enhanced, structured data</a> as the foundation for successful AI adoption, the discussion followed a "crawl, walk, run" strategy &mdash; by building incrementally upon each previous stage.
<ul>
<li style="font-weight: 400;" aria-level="1">Crawl: Using agents internally</li>
<li style="font-weight: 400;" aria-level="1">Walk: Putting informational agents in front of customers</li>
<li style="font-weight: 400;" aria-level="1">Run: Opening up full transactional capabilities</li>
</ul>
When banks and credit unions feel comfortable about building out internal agents, they will be prepared to leverage AI to make customer-facing information available. Once customer-facing AI has <a href="https://www.mx.com/blog/where-consumers-trust-and-use-ai/">built trust across the customer base</a>, institutions will be ready to deploy AI that helps consumers transact. It&rsquo;s all about assessing where you are on your AI adoption journey and seeing how to get to the next phase.
<h2>Moral Responsibility and the Future</h2>
All things technology, innovation, and AI can help financial institutions build toward an economic system that benefits consumers. To close out the session, Dotter emphasized that financial institutions have a &ldquo;moral responsibility&rdquo; to create changes for consumers that positively impact them. It&rsquo;s in providers&rsquo; hands to change the industry for the better.

How the Financial Industry Can Leverage Agentic AI to Drive Growth 

New research shows that most Americans report living paycheck to paycheck. But, the right tools can improve that, see how. 

Request a demo to see how MX can improve your customers' financial wellness. 

See How MX Can Reduce Your Customer's Financial Stress

Explore what it means to live paycheck to paycheck today and how greater financial clarity through MX tools can help consumers build stability and improve outcomes.

 Defining Living Paycheck to Paycheck with MX Data

For many Americans, financial goals aren&rsquo;t about getting ahead, they are about getting through the month. <a href="https://www.mx.com/research/financial-health-tension/">MX&rsquo;s latest consumer research</a> reveals a financial reality defined by tension &mdash; consumers are broadly optimistic about the future, yet strained in the present. At the center of that tension is a widespread experience: living paycheck to paycheck.
As financial providers better understand consumers and their greatest financial needs, they&rsquo;ll be able to prove that consumers&rsquo; financial lives are a priority. And, as this prioritization leads them to implement the right tools, they&rsquo;ll become financial partners that actually drive consumer financial health.
In this blog, financial providers will learn more about the data behind living paycheck to paycheck, and will see how financial tools can have a lasting impact on consumer financial health.
<h2>What &ldquo;Paycheck to Paycheck&rdquo; Really Means</h2>
According to the research report, 62% of consumers consider themselves to be living paycheck to paycheck. But, that label doesn&rsquo;t mean the same thing for everyone.
Most consumers (46%) chose a definition that said living paycheck to paycheck meant covering bills but nothing else, while 1 in 3 chose a definition that reflects a lack of ability to save enough.&nbsp;
Consumers define living paycheck to paycheck as:
<table>
<tbody>
<tr>
<td>
Able to pay bills each month but cannot add to my savings or retirement
</td>
<td>
26%
</td>
</tr>
<tr>
<td>
Unable to pay my monthly bills without my next paycheck
</td>
<td>
20%
</td>
</tr>
<tr>
<td>
No savings set aside
</td>
<td>
18%
</td>
</tr>
<tr>
<td>
Savings amount is too small
</td>
<td>
15%
</td>
</tr>
<tr>
<td>
Not able to build additional wealth during a typical month
</td>
<td>
12%
</td>
</tr>
<tr>
<td>
Able to pay bills and contribute to retirement funds each month but cannot add to my savings
</td>
<td>
7%
</td>
</tr>
</tbody>
</table>
Whatever the definition, living paycheck to paycheck is often more about stalled progress than financial instability.
<h2>Stability Comes First</h2>
Ultimately, the data points to a simple truth &mdash; most consumers are focused on financial stability before anything else. Nearly 1 in 5 (19%) say their top goal for 2026 is simply covering monthly bills, followed by paying down credit card debt (16%) and saving for retirement (10%).
For millions, financial health doesn&rsquo;t begin with wealth-building, it begins with breathing room.
<h2>A Different View Inside MX Data</h2>
Another way to understand this dynamic is through spending behavior. Financial guidance often suggests saving 15&ndash;20% of income, so consumers spending 90% or more of their income can be considered to be living paycheck to paycheck.
But, while more than 6 in 10 consumers identify themselves as living paycheck to paycheck, MX platform data indicates that the right tools can significantly reduce that number. MX platform data leveraging anonymized consumer-permissioned data shows that 51% of users spend at least 90% of their income each month, and 42% of consumers spend 95% of their income.&nbsp;
While these numbers remain too far from zero, this data shows that those that engage with MX&rsquo;s financial insights solution are as much as 21% less likely to be living paycheck to paycheck than consumers overall. That gap suggests that the financial institutions that offer visibility and actionable insights can meaningfully influence financial health for consumers.&nbsp;
<h3>From Insight to Impact: Turning Financial Data into Better Outcomes</h3>
Understanding where consumers stand is the first step toward helping them move forward. With MX <a href="https://www.mx.com/products/financial-insights/">Insights</a> and <a href="https://www.mx.com/products/personal-financial-management/">PFM</a> solutions, financial institutions can gain a clearer view of behavior, identify those at risk of living paycheck to paycheck, and deliver experiences that improve financial health while deepening engagement. For FIs, that means turning insight into action, and action into better outcomes.
To see how this could improve outcomes for your customers, request a demo today.
&nbsp;

Paycheck to Paycheck: The Financial Reality Facing Most Americans in 2026

At the Money Experience Leadership Forum, financial leaders discussed how to find paths to growth across the industry.

At the Money Experience Leadership Forum, financial providers gathered for open discussions on the future of the financial industry.

MX Leadership Forum Recap

Larry King once said, &ldquo;I remind myself every morning: Nothing I say this day will teach me anything. So if I&rsquo;m going to learn, I must do it by listening.&rdquo; The greatest wisdom comes by gathering experts together and learning from one another. This principle was a key motivation behind MX&rsquo;s invite-only <a href="https://www.mx.com/leadership-forum/">Money Experience Leadership Forum</a>.&nbsp;
At the Money Experience Leadership Forum, MX gathered 30 industry leaders to enjoy the majestic mountains of Sundance, Utah. Here attendees actively participated in open discussions about the state of the industry &mdash; and how to find paths to growth.
<img src="https://cms.mx.com/assets/ad2c99ea-d900-4d7e-a55c-938bf2dae7f6?width=1858&amp;height=1238" alt="26 Mxlf Welcome Reception 73 V1" />
The event covered key topics for the industry &mdash; artificial intelligence (AI), establishing a data-driven culture, and identifying opportunities to serve customers. And, the greatest value came from financial providers sharing their real, learned experiences. Here are some of the key themes across the discussions.
<h2>Data Is the Foundation for Everything</h2>
Data was at the heart of every conversation around building better relationships, increasing trust, and helping consumers understand their full financial picture. <a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">MX data shows</a> that 59% of consumers expect their financial provider to leverage the data they have about them to personalize the experience, proving that data is a key driver for consumer relationships.&nbsp;
In order to move into a future-ready banking culture, financial institutions need to embrace data at every level. Personalization, digital experiences, AI, and more are all only as good as the data powering them.
<img src="https://cms.mx.com/assets/652b3852-0612-46e6-b446-e28961e4a5de?width=2223&amp;height=1482" alt="26 Mxlf Afternoon Session 75" />
<h2>Banking Fundamentals Still Matter Most</h2>
Innovation has come to drive growth and change in the financial industry, but success continues to be defined by financial institutions that excel at the basics.
While creating a next-level mobile experience is key, financial leaders must first think about how to drive customer engagement. Bringing AI into the customer experience is essential, but financial providers should start by understanding <a href="https://www.mx.com/blog/financial-wellness/">how they can impact financial wellness</a>. Implementing new and innovative tech is important, but it isn&rsquo;t nearly as powerful without first understanding the need to increase deposits.
Financial institutions must take advantage of new technologies to provide customers with excellent financial experiences. But, the first step is keeping their focus on the banking fundamentals.
<h2>The Role of AI in Financial Services</h2>
AI dominates conversations around the future of the industry. The Money Experience Leadership Forum was no exception. As financial service professionals search for areas to innovate, AI provides a great opportunity to increase engagement and become more operationally efficient.
But, in order to be successful with AI implementation, financial providers need to recognize that AI is an essential part of the journey &mdash; not the destination. Adopting AI for the sake of AI doesn&rsquo;t make the difference. <a href="https://www.mx.com/blog/ai-will-become-user-centric-in-2026/">Using AI with intention to transform financial processes</a> will enable financial leaders to do more for their customers and their business. And, it will push providers into a new era of banking.
<h2>Industry Leaders Making a Difference</h2>
The event was centered on creating a better financial ecosystem &mdash; with the action that makes it possible. In pursuit of this goal, attendees demonstrated their commitment to better the finances of their customers &mdash; and to have a lasting impact on the world.&nbsp;
These leaders are ready to make changes to create a financial system that benefits consumers from all walks of life. By creating space to listen, learn, and challenge one another, these financial providers are shaping what comes next. With leaders eager to make this difference, the future of financial services is bright.&nbsp;
<div style="padding: 56.25% 0 0 0; position: relative;"><iframe style="position: absolute; top: 0; left: 0; width: 100%; height: 100%;" title="MX Leadership Forum 2026 - Web Version" src="https://player.vimeo.com/video/1164060048?h=1c4b079c42&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479" frameborder="0"></iframe></div>

An Inside Look at the Money Experience Leadership Forum

MX research shows how consumers prioritize aspects of their finances in a financial hierarchy. 

MX research reveals how stability, progress, and security shape consumer financial behavior—and how providers can better support each stage.

MX data shows the Financial Hierarchy Shaping Consumer Behavior

Financial health in 2026 is not defined by clear wins or losses, it is shaped by tension. <a href="https://www.mx.com/research/financial-health-tension/">MX&rsquo;s recent survey </a>of more than 1,000 U.S. adults reveals a nuanced reality where consumers balance competing priorities while still looking ahead with cautious optimism.&nbsp;
The data points to a clear framework for understanding this behavior: a financial hierarchy of needs. At the base is stability, followed by progress, and ultimately long-term security. Consumers move through these levels step by step, and their ability to advance depends on how well foundational needs are met. For financial providers, recognizing this hierarchy is essential to delivering meaningful, timely support.
<img src="https://cms.mx.com/assets/1cccf47f-1251-445b-9ca5-744fc6dd56ca?width=1200&amp;height=899" alt="8fb4c681 0ff1 49d0 Bac7 Bd3341320eb8" />
<h2>Stability Is the Foundation of Financial Health</h2>
The base level of the financial hierarchy is simple. Here, consumers are just trying to stay afloat. The most common top financial goal for consumers in 2026 is covering monthly bills, with 1 in 5 consumers listing this as their top goal. That figure outpaces many aspirational goals and highlights a critical truth. Before consumers can think about saving, investing, or building wealth, they need confidence in their day-to-day financial footing.
This focus on stability shows up in more places than goals, with behaviors and stressors giving clear insight into this level of the hierarchy. Forty percent of consumers say they struggle to make ends meet, and 62% report living paycheck to paycheck. For many, that does not mean missing payments. It means there is little or nothing left to allocate toward savings or future goals. At the same time, 31% worry about their ability to cover an unexpected expense, reinforcing how fragile this foundation can be.
Financial stress is closely tied to this layer. More than half of consumers (51%) say money is their primary source of stress, and 49% report feeling anxious when thinking about their finances. The most common stressors center on foundational needs, including maintaining emergency savings and paying bills. When stability is uncertain, it limits consumers&rsquo; ability to engage with higher-level financial goals. For providers, this underscores the importance of tools and experiences that reduce friction and help customers maintain equilibrium.
<h2>Progress Is Defined by Incremental Gains</h2>
Once stability is established, consumers begin to focus on progress towards paying off debt, investing, and making big purchases. This layer includes improving credit, reducing debt, and building savings. The data shows that many consumers are actively working toward these goals, even if progress is uneven.
Paying off credit card debt ranks as a top goal for 16% of consumers, while 9% aim to improve their credit score. Savings goals are also prominent. When consumers have extra money, 50% direct it toward emergency savings, and 36% save for large purchases. These behaviors signal strong intent to move forward financially.
Execution, however, remains inconsistent. Nearly 1 in 5 consumers say they never have money left over at the end of the month. Even among those who do, competing priorities often dilute progress. Small, recurring expenses such as dining out or everyday treats add up, with more than half of consumers identifying impulse spending as a key challenge.
Progress is also shaped by external factors. Changes in personal life and the broader economy were each cited by 46% of consumers as barriers to achieving financial goals. Unexpected expenses, interest rates, and job market shifts further complicate forward momentum. As a result, partial progress is the norm. Only 12% of consumers say they achieved all of their financial goals in 2025, while the majority report meeting some or most of them.
This middle layer of the hierarchy presents a clear opportunity. Consumers are motivated, but they need support translating intent into action. Financial providers can play a critical role by helping customers prioritize goals, automate positive behaviors, and stay on track despite competing demands.
<h2>Optimism Fuels Movement Up the Hierarchy</h2>
Despite widespread stress and uneven progress, optimism remains a defining characteristic of today&rsquo;s financial landscape. Seventy-two percent of consumers say they are optimistic about achieving their top financial goal in 2026. This optimism is even stronger among younger generations, with 80% of Gen Z and 76% of Millennials expressing confidence.
This sense of optimism is rooted in personal agency. Consumers point to changes in their own lives, increased income, and access to helpful resources as key drivers of confidence. It is not simply wishful thinking. It reflects a belief that progress is possible, even in a challenging environment.
At the same time, optimism coexists with strain. Many consumers feel hopeful about the future while managing stress in the present. This duality reinforces the idea that movement up the financial hierarchy is not linear. Consumers may feel confident in their long-term trajectory while still struggling with short-term stability.
For financial providers, this creates an important dynamic. Optimism can be a powerful motivator, but it must be supported by practical solutions that address immediate needs. Bridging that gap helps sustain momentum and keeps consumers moving forward.
<h2>Security Represents Long-Term Aspiration</h2>
At the top of the hierarchy is long-term security. This includes goals such as saving for retirement, paying off major loans, and building wealth. While fewer consumers are focused on this level today, it remains an important aspiration.
Ten percent of consumers identify saving for retirement as their top financial goal, and smaller percentages are focused on paying off mortgages or investing. These goals tend to become more prominent once stability and progress are in place. They also require a longer time horizon and greater financial flexibility.
The challenge is that many consumers are not yet in a position to prioritize this level. Ongoing pressure at the base of the hierarchy limits their ability to allocate resources toward long-term planning. Even so, the desire for security is present, and it shapes how consumers think about their financial future.
Helping consumers reach this stage requires more than access to products. It requires a clear path that builds on earlier progress and reinforces positive financial behaviors over time.
<h2>Clarity Is the Bridge Between Levels</h2>
Across every layer of the hierarchy, one theme stands out: consumers want clarity. Sixty-four percent say they would want to know a financial health score if one were available. This reflects a broader desire for simple, actionable insights that make it easier to understand where they stand and what to do next.
Consumers are already engaged with their finances. Forty-four percent say they track every dollar, and many use a mix of tools and accounts to manage their money. The challenge is fragmentation. The average consumer holds 3.6 accounts across multiple institutions, making it difficult to see the full picture.
This gap between awareness and understanding limits progress. Consumers do not need more data. They need guidance that connects the dots and translates information into meaningful action. A clear signal of financial health can help bridge that gap, enabling consumers to move from stability to progress and ultimately toward security.
<h2>Meeting Consumers Where They Are</h2>
The financial hierarchy offers a practical framework for understanding consumer behavior in a time of uncertainty. Most consumers are focused on stability, working toward progress, and aspiring to long-term security. Their journey is shaped by both optimism and stress, intention and constraint.
For financial providers, the path forward is clear. Start by supporting stability. Build tools and experiences that help consumers manage day-to-day finances with confidence. Then enable progress by reducing friction and guiding behavior. Finally, create pathways to long-term security that feel achievable and relevant.
Consumers are not standing still. They are navigating a complex financial landscape with determination and resilience. Providers that align with their position in the hierarchy will be better equipped to earn trust, deliver value, and help them move forward.
&nbsp;

From Stability to Security: Understanding the Financial Hierarchy Shaping Consumer Behavior

MX historical data shows the trends in consumers financial priorities and where financial, providers can meet them where they are.

MX data shows consumers shifting from financial goals to stability, with rising stress and lower engagement shaping financial health.

MX Insights on Shifting Consumer Financial Behavior in 2026

Over the past year, consumer financial behavior has undergone a subtle but meaningful shift. What once looked like a landscape defined by ambition &mdash; saving for homes, improving credit, and building wealth &mdash; now reflects something more restrained. The focus now is on stability, well-being, and simply keeping up.
<a href="https://www.mx.com/research/financial-health-tension/">MX&rsquo;s latest consumer research</a> reveals trends that show not just what consumers are doing differently, but how their relationship with money, and their expectations of financial providers, is evolving in real time.
<h2>A Rebalancing of Priorities</h2>
One of the clearest indicators of changing consumer mindset is the shift in New Year&rsquo;s resolutions. Financial goals are losing ground to health and personal well-being.
For the past two years, we asked consumers what category their New Year's resolution fell into, and they said:&nbsp;
<table>
<tbody>
<tr>
<td>
New Years Goal Category
</td>
<td>
2025
</td>
<td>
2026
</td>
</tr>
<tr>
<td>
Health
</td>
<td>
26%
</td>
<td>
29%
</td>
</tr>
<tr>
<td>
Finances
</td>
<td>
28%
</td>
<td>
29%
</td>
</tr>
</tbody>
</table>
&nbsp;
This shift becomes more pronounced at the generational level.
&nbsp;
<table>
<tbody>
<tr>
<td>
Generation
</td>
<td>
Health Goal Change
</td>
<td>
Finance Goal Change
</td>
</tr>
<tr>
<td>
Gen Z
</td>
<td>
20% to 25% (+5%)
</td>
<td>
34% to 29% (-5%)
</td>
</tr>
<tr>
<td>
Millennials
</td>
<td>
23% to 28% (+5%)
</td>
<td>
31% to 35% (+4%)
</td>
</tr>
<tr>
<td>
Gen X
</td>
<td>
28% to 25% (-3%)
</td>
<td>
27% to 28% (+1%)
</td>
</tr>
<tr>
<td>
Baby Boomers
</td>
<td>
32% to 38% (+6%)
</td>
<td>
19% to 12% (-7%)
</td>
</tr>
</tbody>
</table>
Gen Z shows a clear pivot away from financial goals. Baby Boomers show the strongest move toward health. Millennials are the only group increasing both, though their financial focus remains high. Gen X is largely unchanged, with a slight tilt toward finances.
The implication is not that finances matter less. It is that consumers increasingly view financial health as one component of overall well-being rather than a standalone priority.
<h2>Stability Is Replacing Aspiration</h2>
When consumers do focus on finances, their priorities are becoming more immediate and less aspirational. Large milestone goals are flat or declining, while short-term financial pressures persist. Consumers answered what their top financial goals are:
<table>
<tbody>
<tr>
<td>
Financial Goal
</td>
<td>
2025
</td>
<td>
2026
</td>
</tr>
<tr>
<td>
Pay off Credit Card Debt
</td>
<td>
13%
</td>
<td>
16%
</td>
</tr>
<tr>
<td>
Covering Monthly Bills
</td>
<td>
19%
</td>
<td>
19%
</td>
</tr>
<tr>
<td>
Save for Retirement
</td>
<td>
10%
</td>
<td>
10%
</td>
</tr>
<tr>
<td>
Buy a Home
</td>
<td>
8%
</td>
<td>
7%
</td>
</tr>
</tbody>
</table>
At a generational level, the story becomes more nuanced. Gen Z is shifting from saving for a car, which drops from 17% to 14%, toward improving credit score, which rises from 8% to 10%. Millennials are pulling back slightly from buying a home, falling from 12% to 10%, and from credit score improvement, declining from 14% to 11%. Gen X shows a notable decline in retirement focus, dropping from 19% to 14%. Baby Boomers show a sharp increase in concern about credit card debt, rising from 17% to 24%.
These patterns indicate a move away from long-term wealth building and toward short-term financial management. Consumers are prioritizing staying current over getting ahead.
<h2>Progress Is Slowing and Consumers Know It</h2>
Perceptions of financial progress are also flattening. We asked consumers if their financial situation was better or worse than it was 6 months ago, and 2 years in a row, 1 in 4 consumers reported worse.&nbsp;
<table>
<tbody>
<tr>
<td>
Financial Situation
</td>
<td>
2025
</td>
<td>
2026
</td>
</tr>
<tr>
<td>
Better
</td>
<td>
34%
</td>
<td>
32%
</td>
</tr>
<tr>
<td>
Same
</td>
<td>
41%
</td>
<td>
43%
</td>
</tr>
<tr>
<td>
Worse
</td>
<td>
25%
</td>
<td>
25%
</td>
</tr>
</tbody>
</table>
Fewer consumers report improvement, while more report no change. This shift toward stagnation is particularly visible among younger generations. Gen Z and Millennials both see an 8-point decline in those who say their finances have improved.
At the same time, only 41% of consumers report fully or mostly achieving their financial goals, while 37% say they fell short or failed entirely. The combination of slower progress and missed goals creates a feedback loop that can weaken confidence and reduce engagement.
<h2>Optimism Is Softening, Especially for Key Segments</h2>
Consumer optimism about achieving their financial goals remains high, but it is trending slightly downward. At the start of 2025, 75% of consumers said they were either optimistic or very optimistic about achieving their financial goals for the year, whereas 72% said the same at the start of 2026.&nbsp;
The generational breakdown reveals sharper shifts beneath the surface. Millennials show the largest decline in strong optimism, dropping from 46% to 42%. Gen X experiences a 10-point drop in general optimism, falling from 46% to 36%. Gen Z remains steady at 39% to 38%, still the most confident cohort overall. Baby Boomers remain stable, with optimism moving only slightly from 44% to 43%.
This indicates that while overall sentiment appears stable, confidence is weakening in the middle of the population where financial pressure is often greatest.
<h2>Stress Remains High but Is Unevenly Distributed</h2>
Financial stress is not increasing overall, but it is not lessening either. We asked consumers if money was their main source of stress, and more than half agree or strongly agree.
<table>
<tbody>
<tr>
<td>
Group
</td>
<td>
2025
</td>
<td>
2026
</td>
</tr>
<tr>
<td>
Overall
</td>
<td>
51%
</td>
<td>
51%
</td>
</tr>
<tr>
<td>
Gen Z
</td>
<td>
59%
</td>
<td>
58%
</td>
</tr>
<tr>
<td>
Millennials
</td>
<td>
51%
</td>
<td>
57%
</td>
</tr>
<tr>
<td>
Gen X
</td>
<td>
50%
</td>
<td>
51%
</td>
</tr>
<tr>
<td>
Baby Boomers
</td>
<td>
43%
</td>
<td>
36%
</td>
</tr>
</tbody>
</table>
Millennials stand out with a 6-point increase in stress, making them the only group experiencing a meaningful rise. Gen Z remains the most stressed overall, even though their level is relatively stable. Baby Boomers show a notable decline in stress.
This divergence highlights how financial pressure is not evenly distributed. Different generations are experiencing very different financial realities, even within the same macroeconomic environment.
<h2>Engagement Is Declining as Complexity Increases</h2>
One of the most significant behavioral changes in the data is a steep increase in financial avoidance. Across every generation more respondents said they do not track their finances in any way.
<table>
<tbody>
<tr>
<td>
Group
</td>
<td>
Do not Track Finances in &lsquo;25
</td>
<td>
Do not Track Finances in &lsquo;26
</td>
</tr>
<tr>
<td>
Overall
</td>
<td>
14%
</td>
<td>
22%
</td>
</tr>
<tr>
<td>
Gen Z
</td>
<td>
10%
</td>
<td>
22%
</td>
</tr>
<tr>
<td>
Millennials
</td>
<td>
14%
</td>
<td>
19%
</td>
</tr>
<tr>
<td>
Gen X
</td>
<td>
15%
</td>
<td>
27%
</td>
</tr>
<tr>
<td>
Baby Boomers
</td>
<td>
17%
</td>
<td>
19%
</td>
</tr>
</tbody>
</table>
With financial stress remaining steady and consistent in financial situations, it stands to reason that consumers are avoiding their finances not because they are getting worse, but because they are too complex.&nbsp;
As financial lives become more fragmented, traditional tools may no longer feel sufficient. Consumers may be disengaging not because they do not care, but because the effort required to stay engaged is increasing.
<h2>What This Signals About Trust and the Role of Financial Providers</h2>
Across all of these trends, a common theme emerges. Consumers are not abandoning financial responsibility. They are recalibrating how they engage with it.
Rising debt concerns, flat progress, declining budgeting, and sustained stress all point to a need for greater support. When fewer consumers are actively managing their finances and fewer feel they are making progress, the role of the financial provider becomes more central.
Trust in this environment is built through utility. Consumers are <a href="https://www.mx.com/blog/customer-satisfaction-in-2026/">more likely to trust institutions</a> that help them navigate complexity, surface meaningful insights, and create a sense of forward momentum even when conditions are challenging.
<h2>Generational Signals Point to Diverging Needs</h2>
Each generation is responding differently to the same environment, which has important implications for how financial services should evolve.
Gen Z shows declining budgeting, reduced financial progress, and a shift away from financial goals. This suggests a need for tools that rebuild engagement and simplify early financial decision making.
Millennials show rising stress, declining optimism, and reduced focus on major milestones like homeownership. This points to a need for solutions that reduce pressure and provide clearer pathways to progress.
Gen X shows declining optimism, reduced retirement focus, and the largest drop in budgeting. This signals potential disengagement at a critical stage of long-term financial planning.
Baby Boomers show declining stress and increased focus on health, alongside rising concern about debt. This indicates relative stability with emerging risks tied to debt management.
<h2>Redefining Financial Health</h2>
The data from the past year does not point to a collapse in consumer financial health. It points to a redefinition of it.
Consumers are placing less emphasis on long-term ambition and more on maintaining stability. They are engaging less with traditional financial management tools while still experiencing high levels of stress. Progress is slowing, and confidence is becoming more fragile in key segments.
Financial health in this environment is not just about outcomes. It is about whether consumers feel in control, whether they understand their financial position, and whether they believe progress is possible.
Financial providers that can <a href="https://www.mx.com/products/financial-insights/">translate complex data into clear, actionable guidance</a> have an opportunity to meet this moment. Those that help consumers see progress, reduce friction, and simplify decision making will be better positioned to build trust in a time when confidence is increasingly difficult to sustain.

How Have Consumers’ Financial Priorities Changed? Trends in MX Research 

MX applauds the intent and direction of the Gramm-Leach-Bliley Act and hope to help steer it in the best direction for innovation.

How updates to the GBLA can protect consumers, enable innovation, and ensure fair access to financial data across institutions of all sizes. 

 Modernizing Financial Privacy for the Data Economy

As financial services continue to evolve in a data-driven economy, the regulatory frameworks that govern them must evolve as well. The proposed updates to Title V of the Gramm-Leach-Bliley Act (GLBA) represent a meaningful step toward aligning financial privacy rules with how consumers actually engage with their data today.
At MX, we applaud the House Financial Service Committee members and their staff for taking on this effort and believe it presents a critical opportunity to strengthen consumer protection while preserving the innovation that improves financial outcomes.
But, of course, getting this balance right requires precision.
<h2>The Opportunity: A Modern Framework for Financial Data</h2>
The discussion draft to modernize GLBA reflects several important advancements that align with the realities of today&rsquo;s digital financial ecosystem.
<ul>
<li style="font-weight: 400;" aria-level="1">Broader Definition of Sensitive Data: Expanding &ldquo;nonpublic personal information&rdquo; to include biometric data, geolocation, and access credentials acknowledges the complexity of modern financial identities and ensures protections evolve alongside risk.</li>
<li style="font-weight: 400;" aria-level="1">Unified Federal Standard: A single national privacy framework would replace today&rsquo;s fragmented, state-by-state approach. This reduces compliance burdens, encourages responsible innovation, and ultimately lowers costs for consumers.</li>
<li style="font-weight: 400;" aria-level="1">Stronger Consumer Control: Clarifying data minimization standards and reinforcing the consumer&rsquo;s right to opt out strengthens the principle that individuals, not institutions, own their financial data.&nbsp;</li>
</ul>
These are meaningful steps forward. But, without careful refinement, parts of the proposal risk introducing unintended consequences.
<h2>Navigating Potential Pitfalls in Modernizing Financial Privacy</h2>
Looking ahead to a future where financial data is more accessible and secure, the modernization of GLBA Title V presents a pivotal moment for the industry. However, achieving a balance between robust protection and continued innovation requires a nuanced approach to certain structural challenges. To ensure the new framework serves both industry stability and consumer empowerment, there are key areas where the committee can proactively address potential friction.
<h3>Ensuring Clarity in Data Utility</h3>
The transition to a more modern privacy standard hinges on how we define the scope of data use. While the goal is to protect consumers from misuse, it is equally important to ensure that the "legitimate business purposes" powering modern financial health remain viable.
<ul>
<li style="font-weight: 400;" aria-level="1">Defining Beneficial Use: Without a clear definition of acceptable data use, there is a risk that essential services &mdash; such as fraud detection, transaction categorization, and personalized financial coaching &mdash;&nbsp; could inadvertently be restricted.</li>
<li style="font-weight: 400;" aria-level="1">Balancing Protection with Personalization: A primary challenge will be distinguishing between harmful, non-permissioned data sales and the high-value, consumer-permissioned insights that help individuals manage their money more effectively.</li>
</ul>
<h3>Maintaining a Level Playing Field for Innovation</h3>
One of the most complex hurdles in modernizing financial privacy is ensuring that new requirements do not unintentionally favor certain market participants over others based on their existing technical infrastructure.
<ul>
<li style="font-weight: 400;" aria-level="1">Ensuring Equitable Technical Standards: As API-based data access becomes the norm, smaller institutions &mdash; such as community banks and credit unions &mdash; may take longer to implement APIs, or in some cases, not have the budget to implement them at all. Maintaining a competitive market for these institutions relies on users being able to connect their data through innovative new tools provided through intermediaries</li>
<li style="font-weight: 400;" aria-level="1">Preserving Consumer Choice: If the transition introduces excessive friction or "warning fatigue" for certain types of connections, consumers may find it harder to access the diverse range of financial tools they rely on today.</li>
<li style="font-weight: 400;" aria-level="1">Aligning Accountability with Control: To maintain a fair ecosystem, it is vital that accountability for data access methods is aligned with the entities that actually control the underlying technology and infrastructure.</li>
</ul>
By focusing on these higher-level considerations, we can create a framework that not only protects consumer privacy but also fosters a competitive and inclusive financial landscape.
<h2>Why a National Standard Matters</h2>
The draft&rsquo;s federal preemption provision is critical. A single national standard reduces complexity and cost, while enabling consistent security practices across the industry.
For consumers, this means more reliable products and better access to financial tools, regardless of where they live.
<h2>Getting Modernization Right</h2>
Modernizing financial privacy will shape how consumers use their data for years to come. The goal is clear:
<ul>
<li style="font-weight: 400;" aria-level="1">Protect consumers</li>
<li style="font-weight: 400;" aria-level="1">Preserve choice</li>
<li style="font-weight: 400;" aria-level="1">Support innovation</li>
</ul>
With targeted refinements, clarifying legitimate data use and ensuring equitable access standards, this legislation can achieve all three.
At MX, we believe that when consumers have secure, permissioned access to their financial data, they make better decisions, engage more deeply with financial services, and ultimately achieve stronger financial outcomes.
Getting this right isn&rsquo;t just good policy, it&rsquo;s essential to the future of financial health.

Modernizing Financial Privacy Without Sacrificing Innovation

Founders Day — an MX company holiday — commemorates the founding of MX and gives us a strong reminder of our mission.  

MX’s company holiday, Founders Day, is an important reminder to think like a founder as we continue to empower the world to be financially strong.

MX Celebrates Founders Day

This Friday, the MX team is taking the day off for a very important day &mdash; Founders Day. This company holiday commemorates the founding of MX, honors the foundation co-founders Ryan Caldwell and the late <a href="https://www.mx.com/dewitt/">Brandon Dewitt</a> built at MX, and gives us a strong reminder of the values and purpose that push the MX team forward.&nbsp;&nbsp;
<h2>The Founding of MX</h2>
In 2010, Ryan and Brandon were on separate, but similar, paths. Ryan started MoneyDesktop, the foundation of what is now MX, and Brandon co-founded the company MyJibe &mdash; a personal finance web application company. Both businesses had a mission rooted in helping people better understand and manage their finances. And, both founders had a love for making a difference in the future of mankind.&nbsp;
Brandon flew to Utah to talk more with Ryan to learn more MoneyDesktop and simply never left. Their shared passion and purpose turned into months of strategizing, planning, and writing code together. In November 2011, MoneyDesktop acquired MyJibe, creating MX.&nbsp;
<h2>Building the MX Values</h2>
The founding of MX was driven by a strong purpose to shape a financial system that better serves families and innovation. To align with this mission, the early leadership established MX&rsquo;s core values with intention. <a href="https://www.mx.com/company/#values">The values that guide our aspirations are</a>:
<ul>
<li style="font-weight: 400;" aria-level="1">Purposeful Contribution: Contribution demands execution and MX chooses to have a strong bias towards execution.</li>
<li style="font-weight: 400;" aria-level="1">Exuberance for Life: We believe we get the chance, but also have the responsibility, to uplift others by being inspirational, encouraging, kind (even when being firm), and loving.</li>
<li style="font-weight: 400;" aria-level="1">Founder Mindset: When encountering any problem, we ask ourselves, &ldquo;If not me, then who? If not now, then when?&rdquo;</li>
<li style="font-weight: 400;" aria-level="1">Foundation of Trust: We are a data-driven organization that believes in radical honesty. We leverage metrics and data to celebrate our capability, increase our transparency, optimize our accountability, and expose our vulnerability.</li>
<li style="font-weight: 400;" aria-level="1">Objectivity in Discourse: Data determines merit of claims in a debate.</li>
<li style="font-weight: 400;" aria-level="1">Cognizance: We choose to have empathy and be aware of how we are affecting others &ndash; always being respectful, fair and kind to team members, the company, partners, clients, end-users, competitors, and the world.</li>
<li style="font-weight: 400;" aria-level="1">Iterative Innovation: We believe in highly iterative and rapid innovation. We start small, make quick cuts, test assumptions, fail quickly, make adjustments, and improve.</li>
</ul>
<h2>Living as a Founder</h2>
While each of our values push the MX team to be better, Founders Day serves as a strong reminder to embody a Founder Mindset. This value involves taking initiative and acting when encountering challenges. A Founder Mindset drives a shared sense of ownership and a commitment to leave our communities better than we found them. And, in today&rsquo;s world, that&rsquo;s more important than ever.
MX recently found that <a href="https://www.mx.com/research/financial-health-tension/">31% of consumers say they are worried about their ability to cover an unexpected expense</a>. This unsettling statistic proves that consumers need help with their finances. And, <a href="https://www.mx.com/research/financial-apps-fall-short/">31% of consumers agree they don&rsquo;t feel financial providers do enough to support their financial needs</a>. Today, there is a greater need than ever before for the industry to take ownership and provide consumers with the tools that will help them achieve positive financial outcomes.&nbsp;
Let&rsquo;s all take this dedicated time to consider the purpose behind our work and life &mdash; and how we can continue to empower the world.
<a href="https://www.mx.com/request-demo/">Learn more about how MX empowers the world to be financially strong</a>.

Founders Day: Embodying a Founder Mindset for a Greater Impact

RVP of Sales

What Formula 1 reveals about modern financial services—from real-time data to personalized experiences and better consumer outcomes.

What Formula 1 Can Teach Financial Services About Speed and Precision

At the Money Experience Leadership Forum in Sundance, I had the incredible opportunity to sit down with Gary Foote of the Haas F1 Team in a keynote address that explored an unexpected but powerful parallel: Formula 1 racing and modern financial services.
At first glance, the two worlds feel far apart. One is defined by speed, precision, and global spectacle. The other by trust, infrastructure, and everyday decision-making. But beneath the surface, both are driven by the same fundamental dynamic: performance at the edge of complexity.
<h3>The Consumer Is in the Driver&rsquo;s Seat</h3>
In Formula 1, the driver sits in the cockpit, making split-second decisions at over 200 miles per hour. Every turn carries risk. Every move reflects strategy, instinct, and the desire to win.
Financial services is no different.
Consumers are in the driver&rsquo;s seat of their financial lives. They decide when to spend, save, borrow, and invest. They navigate uncertainty, react to changing conditions, and balance short-term needs with long-term goals. The &ldquo;race&rdquo; is deeply personal, but no less complex.
And just like in F1, the outcome is not determined by the driver alone.
<h3>The Team Behind the Machine</h3>
No F1 driver wins alone. Engineers, analysts, and strategists continuously refine performance using real-time data.
Financial institutions play that same role. They are responsible for building the systems, insights, and experiences that support better decision-making.
And, the expectation is clear: <a href="https://www.mx.com/research/cheat-codes-to-win-and-retain-customers/">82% of consumers</a> expect their provider to use data to deliver more personalized experiences. At the same time, <a href="https://www.mx.com/research/what-consumers-want-from-financial-providers/">75% of consumers</a> expect proactive guidance on financial issues.&nbsp;
But like in racing, the goal is not to take control away from the driver. It is to enable better decisions in the moments that matter most.
<h3>Marginal Gains, Meaningful Impact</h3>
In Formula 1, races are often decided by fractions of a second. Small optimizations compound into winning outcomes.
Financial services operate the same way. A well-timed alert. A clearer view of cash flow. A smarter recommendation.
Individually, these moments feel small. Collectively, they shape financial outcomes.
This matters more in a world where <a href="https://www.mx.com/research/the-missing-link/">44% of consumers </a>say they struggle to make ends meet and many feel underserved by their providers. Incremental improvements are not just nice to have &mdash; they are essential.
<h3>Data Is the Difference</h3>
Modern F1 runs on telemetry, simulation, and constant feedback loops. Financial services is moving in the same direction.
Consumers increasingly expect institutions to understand them and act accordingly. <a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/?_gl=1*1dm7taw*_gcl_au*MTcwODIxMTYwMi4xNzY1MjIyODI3*_ga*NDkzMTI3MjQwLjE3MjYwNzU1MDk.*_ga_Y1KF9XT0B9*czE3NzE5NTMzNjgkbzM5OSRnMSR0MTc3MTk1MzM3OSRqNDkkbDAkaDA.">More than half (53%)</a> say they would give their financial provider more of their data if they knew it would result in a better experience.&nbsp;
The advantage no longer comes from having data. It comes from using it well&mdash;turning insight into action in real time.
<h3>Building for the Full Race</h3>
Formula 1 teams do not build cars for a single lap. They build for the full race. Conditions change. Strategies evolve. Unexpected challenges arise.
The same is true for financial lives.
Consumers are not navigating a single transaction. They are managing an ongoing journey shaped by life events, economic shifts, and personal goals. Supporting that journey requires systems that are flexible, resilient, and continuously improving.
It also requires alignment.
In F1, the best teams combine ambitious drivers with disciplined, data-driven support systems. The driver wants to win. The team ensures that every decision increases the likelihood of getting there.
In financial services, success comes from the same balance. Empowered consumers paired with intelligent, data-driven infrastructure.
<h3>The Finish Line Is Better Outcomes</h3>
The lesson from Formula 1 is not about speed for its own sake. It is about precision, coordination, and continuous improvement.
When consumers are equipped with the right tools and insights, they are better positioned to navigate their financial lives with confidence. When institutions operate as high-performing teams behind the scenes, they create the conditions for those outcomes to improve.
In both racing and financial services, the margin between success and failure is often small.
But, those margins matter.

Precision at Speed: What Formula 1 Reveals About Financial Services

In 2026, banks that are not obsessed with their mobile strategy will fall behind. 


In 2026, the financial industry will have to shift to a mobile-obsessed mindset to create better financial experiences for consumers.

How Financial Institution Can Win with Mobile in 2026

A decade ago, mobile apps were the newest innovation to hit the world of banking &mdash; making financial management more accessible to consumers on the go. While it once was a sign of major innovation, it&rsquo;s become the most basic expectation consumers have for financial providers to help them better manage their facial lives.
Because <a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">52% of people</a> say they check their most used banking or finance app every single day, mobile and digital banking is the place to start to have a greater impact on consumers&rsquo; financial lives. As financial institutions look toward the future, they&rsquo;ll see how they can leverage their mobile apps to empower growth across the business.
MX&rsquo;s latest whitepaper diving into <a href="https://www.mx.com/whitepapers/2026-predictions/">key predictions for 2026</a> solidifies mobile banking as a key component for banking strategies this year. In 2026, we predict that banks that are not obsessed with their mobile strategy will fall behind. A basic mobile app won&rsquo;t just inconvenience customers, it will cause even banks with deep customer relationships to become obsolete.
<h2>Consumers Won&rsquo;t Tolerate Bad Mobile Experiences</h2>
Mobile banking can be the deciding factor for whether or not consumers will stay with their bank. And, if banks don&rsquo;t deliver on consumers&rsquo; most wanted features, consumers will be ready to move on.
Consumer opinions around their financial institution are largely shaped by their mobile banking experience. <a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">Recent MX research</a> found that consumer expectations around mobile banking continue to rise. In fact, 67% of consumers wouldn&rsquo;t choose a financial provider that had a bad mobile experience.
<img src="https://cms.mx.com/assets/bf0f315c-2c89-40eb-bc1a-24702ace8f72?width=2581&amp;height=2084" alt="2c43f8a2 1b9a 47df 80b7 C71e8d18453f" />
<h2>What Makes a Great Mobile Banking Experience?</h2>
<a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">MX recently asked consumers</a> what makes a good mobile banking experience. The answers were varied &mdash; with 68% of consumers wanting fraud alerts and the ability to stop payments within their mobile application at the top of their list. Card control options and mobile check deposits were also top features needed to create a good mobile banking experience.<img src="https://cms.mx.com/assets/0f65884e-1fa2-4c06-b3a2-34164061c570?width=1684&amp;height=3269" alt="69170" />
But, mobile banking is about much more than new, sleek features. In fact, not even AI will be the make or break mobile banking feature &mdash; if the right experience isn&rsquo;t built first. As Crystal Anderson, MX&rsquo;s Chief of Staff and Head of Product said in a recent webinar highlighting the <a href="https://www.mx.com/webinars/financial-industry-predictions-2026/">top industry predictions for 2026</a>, "[Mobile banking] has to be about the experience. You can't just add a bunch of AI features into the app. It is about the experience." When you think about how the mobile app impacts the financial experience for consumers as a whole, you&rsquo;ll win.
<h2>The Role of Personalization in the Mobile Experience</h2>
As there is no catch-all solution for must-have mobile banking features, financial providers should bring one key element into their mobile banking strategy: personalized financial experiences.
<a href="https://www.mx.com/research/crossing-the-chasm-consumer-demand-mobile-experiences/">Fifty-one percent of consumers say</a> they expect greater levels of personalization from their finance-related mobile apps than what they receive today. When consumers are presented with offers or services that are irrelevant to their needs, <a href="https://www.mx.com/webinars/financial-industry-predictions-2026/">MX&rsquo;s Jess Linford said</a>, &ldquo;they&rsquo;ll use it as a way to stop listening.&rdquo;
<div style="padding: 56.25% 0 0 0; position: relative;"><iframe style="position: absolute; top: 0; left: 0; width: 100%; height: 100%;" title="26 Webinar Predictions - Personalization" src="https://player.vimeo.com/video/1164056340?h=24c16dcbc9&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479" frameborder="0"></iframe></div>
<h2>The Need to Lead with Mobile</h2>
<a href="https://www.mckinsey.com/ch/~/media/mckinsey/industries/financial%20services/our%20insights/the%20state%20of%20retail%20banking%20profitability%20and%20growth%20in%20the%20era%20of%20digital%20and%20ai/the-state-of-retail-banking-profitability-and-growth-in-the-era-of-digital-and-ai.pdf">A report from McKinsey &amp; Company said</a>, &ldquo;Mobile is now the gateway to everyday banking for a growing majority of consumers in various markets. Banks therefore need to design their distribution so it leads with mobile.&rdquo;
Instead of simply considering mobile, financial institutions should lead growth strategies with mobile. It&rsquo;s where the customers are. And, it will lead the financial institutions to grow in 2026.
<a href="https://www.mx.com/products/mobile-banking/">Discover how you can take your mobile banking experience to the next level</a>.

Why 2026 Is the Year of Mobile-Banking Obsession

Fraud is evolving and a growing vulnerability is consumer authorized fraud. Check out these insights form MX's 2006 predictions. 

When Fraud Looks Like Trust, Consumers Lose. 

<h3>Why Consumer-Authorized Scams Will Define Financial Crime in 2026</h3>
For years, financial institutions have invested heavily in keeping criminals out. Stronger authentication, tokenized credentials, and real-time monitoring have raised the bar for traditional fraud. Those efforts worked. In many cases, breaking into accounts is harder than ever.
But, fraudsters have not been discouraged. They have changed tactics.
As AI accelerates social engineering and impersonation risks, the greatest fraud risk is no longer stolen credentials. It&rsquo;s stolen confidence. Consumers are increasingly being manipulated into approving transactions themselves, believing they are acting securely. That shift leads to one of <a href="https://www.mx.com/webinars/financial-industry-predictions-2026/">MX&rsquo;s defining predictions</a> for the financial industry in 2026:
The biggest fraud challenge won&rsquo;t be keeping criminals out. It will be stopping them from convincing consumers to let them in.
<h3>The Rise of Consumer-Authorized Scams</h3>
Consumer-authorized fraud is growing because it bypasses the very controls financial institutions rely on. Instead of hacking systems, criminals persuade people.
Key signals from recent data highlight how quickly this threat is escalating:
<ul>
<li style="font-weight: 400;" aria-level="1">$12 billion in consumer fraud losses <a href="https://www.ftc.gov/news-events/news/press-releases/2025/03/new-ftc-data-show-big-jump-reported-losses-fraud-125-billion-2024">reported by the FTC</a> in 2024, driven largely by imposter scams and investment schemes.</li>
<li style="font-weight: 400;" aria-level="1">$16 billion in losses recorded by the <a href="https://www.fbi.gov/news/press-releases/fbi-releases-annual-internet-crime-report">FBI&rsquo;s Internet Crime Complaint Center</a> the same year, primarily tied to social engineering.</li>
<li style="font-weight: 400;" aria-level="1">$15 billion in projected U.S. authorized push payment fraud losses by 2028, <a href="https://www.deloitte.com/us/en/insights/industry/financial-services/authorized-push-payment-fraud.html">according to Deloitte</a>.</li>
<li style="font-weight: 400;" aria-level="1">More than 60% of data breaches involve a human element, as <a href="https://www.verizon.com/business/resources/reports/2025-dbir-executive-summary.pdf">reported by Verizon</a>.</li>
</ul>
Fraudsters are following the path of least resistance, and today that path runs through human decision making.
<h3>Why Stronger Security Isn&rsquo;t Enough</h3>
As traditional fraud entry points become more secure, attackers are exploiting complexity instead. Consumers juggle dozens of apps, alerts, and verification experiences. Between a variety of accounts and apps, consumers are asked to identify an array of inconsistent communications and content.
That inconsistency creates uncertainty. When consumers aren&rsquo;t sure what real contact looks like, it becomes easier for bad actors to insert themselves convincingly. Gone are the days of Nigerian princes asking for your bank account, fraudsters today can send messages that look and feel like the real thing.&nbsp;
And like many things, AI amplifies this challenge. Deepfake audio, synthetic identities, and highly personalized phishing make scams look and feel authentic. In fact, according to McAfee Labs, <a href="https://www.mcafee.com/ai/news/ai-voice-scam/">70% of people aren&rsquo;t confident</a> they could distinguish a cloned voice from a real one.
<h2>The New Fraud Battleground</h2>
In 2026, fraud prevention will need to shift focus away from systems and onto behaviors. Success will depend on how well institutions:
<ul>
<li style="font-weight: 400;" aria-level="1">Educate consumers before scams occur.</li>
<li style="font-weight: 400;" aria-level="1">Design clearer, more consistent authentication experiences.</li>
<li style="font-weight: 400;" aria-level="1">Introduce smarter, contextual warnings at moments of risk.</li>
<li style="font-weight: 400;" aria-level="1">Add friction strategically when consumer intent seems uncertain.</li>
</ul>
The institutions that adapt won&rsquo;t just stop fraud. They&rsquo;ll protect trust, the most valuable currency in a financial ecosystem where deception feels increasingly real.
For more on what to look for in the financial industry 2026, check out all of <a href="https://www.mx.com/whitepapers/2026-predictions/">MX&rsquo;s 2026 predictions</a>.

Blog

Featured

The Great Wealth Transfer Is No Longer a Forecast. It’s Your New Retention Strategy.

How the Financial Industry Can Leverage Agentic AI to Drive Growth

Paycheck to Paycheck: The Financial Reality Facing Most Americans in 2026

An Inside Look at the Money Experience Leadership Forum

Topic

The Great Wealth Transfer Is No Longer a Forecast. It’s Your New Retention Strategy.

From Stability to Security: Understanding the Financial Hierarchy Shaping Consumer Behavior

How the Financial Industry Can Leverage Agentic AI to Drive Growth

How Have Consumers’ Financial Priorities Changed? Trends in MX Research

Modernizing Financial Privacy Without Sacrificing Innovation

Paycheck to Paycheck: The Financial Reality Facing Most Americans in 2026

Founders Day: Embodying a Founder Mindset for a Greater Impact

Precision at Speed: What Formula 1 Reveals About Financial Services

Why 2026 Is the Year of Mobile-Banking Obsession

When Fraud Looks Like Trust

Blog

Featured

The Great Wealth Transfer Is No Longer a Forecast. It’s Your New Retention Strategy.

How the Financial Industry Can Leverage Agentic AI to Drive Growth

Paycheck to Paycheck: The Financial Reality Facing Most Americans in 2026

An Inside Look at the Money Experience Leadership Forum

Topic

Find us on

The Great Wealth Transfer Is No Longer a Forecast. It’s Your New Retention Strategy.

From Stability to Security: Understanding the Financial Hierarchy Shaping Consumer Behavior

How the Financial Industry Can Leverage Agentic AI to Drive Growth

How Have Consumers’ Financial Priorities Changed? Trends in MX Research

Modernizing Financial Privacy Without Sacrificing Innovation

Paycheck to Paycheck: The Financial Reality Facing Most Americans in 2026

Founders Day: Embodying a Founder Mindset for a Greater Impact

Precision at Speed: What Formula 1 Reveals About Financial Services

Why 2026 Is the Year of Mobile-Banking Obsession

When Fraud Looks Like Trust