Amazon and Netflix have shown that subscription services can be a hit with consumers. How can banks emulate this success with fee-charging current accounts – how do we get customers to buy a banking subscription?
Is it all about account benefits and rewards: can we be more creative and improve the value-add? Where are we going wrong – is the language of “subscription”, “upgrade” and “membership” more engaging for today's consumers? Do the service offerings of fintech challengers provide any pointers?
Our expert panel looks at what we can learn from subscription models elsewhere and how to apply those lessons to banking services.
Alex Whittaker, Digital Lead Europe, Prophet