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US Financial Services Market Report 2025

US Financial Services Market Report 2025

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US Financial Services Market Analysis

The US financial services market in 2025 is showing resilience, driven by stable job growth and improving consumer finances after past disruptions like the COVID-19 pandemic and inflation.

Consumers are increasingly balancing saving with discretionary spending, particularly on travel and big-ticket items, with increasing interest in investment products. While inflation concerns and tariff risks could impact growth, particularly for low-income households, demand for digital financial tools is rising. In the forecast, credit card and investment account openings are planned, especially among younger demographics, with a focus on personalized, flexible financial solutions to meet evolving needs.

US Financial Services Market Trends

Consumer trends in 2025 reflect a shift in priorities, with saving for both short term and long term goals remaining top financial priority, while discretionary spending on travel and large purchases has significantly increased. Investment accounts saw the fastest growth in planned openings, especially among younger generations, as they look to build wealth. Women represents an addressable market for FIs, with planned engagement across a variety of financial products, including savings, investment, and credit-building tools. Confidence in personal finance varies by age and gender, with younger men feeling more confident in managing credit and budget, but declines with age, particularly in areas like retirement planning and investing. Women, in contrast, gain confidence under similar scenarios. Additionally, there is a strong desire for digital tools and features, especially among Gen Z and Millennials, while older generations still value traditional customer service interactions.

Purchasing the US Financial Services Market Report 2025 will provide insights on key trends such as the balance between sustained saving priorities and increased discretionary spending, along with the fastest growth in planned investment account openings. It identifies opportunities for financial institutions in the financial services industry to offer personalized, tech-driven solutions that cater to both short-term spending and long-term wealth building. By embracing AI-powered advisory solutions and flexible offerings, FIs can attract younger consumers and strengthen their market position to meet evolving customer needs in the finance market.

About The Report

The 2025 US Financial Services Market Report provides valuable insights into shifting consumer priorities, including the rise in discretionary spending and the growing demand for investment products. It covers key areas such as personal finance confidence, product usage trends, and the impact of digital and AI-driven solutions on consumer behavior. The research also explores demographic-specific needs, highlighting opportunities for financial institutions to cater to diverse customer segments within the financial services market. This report will benefit financial institutions, marketers, and investors seeking to understand evolving US financial services market dynamics, consumer trends, and actionable strategies to enhance engagement and grow their customer base.

Key Topics Analyzed in the Report

Planned financial account openings for 2025
Financial goals for 2025
Most desired product features
Desired forms of financial support from banks
Personal finance confidence
Attitudes toward financial services

Meet the Expert Behind the Analysis

This report was written by Amr Hamdi. Amr joined Mintel in 2021 with a background in economics and previous work experience at the Federal Reserve. In his role, he leverages consumer research, competitive marketing analysis, and industry trends to provide detailed consumer reports around diverse topics such as banking, fintech, insurance, and investments.

Shifting priorities in 2025 highlight opportunities for financial services to support consumers balancing discretionary spending and long-term financial goals.

Amr Hamdi

Senior Analyst – Financial Services

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EXECUTIVE SUMMARY
- What you need to know
- Consumers’ shift to greater discretionary spending presents acquisition opportunities across a wide range of financial products
- Graph 1: financial priorities over time, 2024 and 2025
- Women are an addressable market for FIs, particularly across short-term and long-term financial products
- Graph 2: women’s planned new financial accounts over time, 2024 and 2025
- Leverage proactive credit management tools to boost engagement
- Men lose confidence across key areas of personal finance over time, requiring the need for closer involvement from their FIs as they age
- Graph 3: personal finance areas consumers are very confident about, by age and gender, 2025
- Empower women’s personal finance literacy from an early age
- Graph 4: personal finance areas consumers are very confident about, by age and gender, 2024
- Market predictions
- Opportunities
- Issuers and travel brands have a wellspring of acquisition opportunities with older, high-earning consumers
- Graph 5: prioritization of travel, by age and income, 2024 and 2025
- Build loyalty and trust with multicultural adults by aligning financial services with their cultural values and interests
- Graph 6: attitudes toward FIs and partnerships, by race and ethnicity, 2025
MARKET DYNAMICS
- Market context
- Market drivers
- Positive gains across consumers’ personal finances will continue to drive non-essential spending, particularly across higher-earners
- Graph 7: change in financial situation over the past 12 months, 2023-25
- Rising inflation necessitates the need for more outreach across low-income households
- Graph 8: consumer price index, 2022-25
CONSUMER INSIGHTS
- Consumer fast facts
- Planned accounts for 2025
- Planned credit card and investment activity highlight cross-sell opportunities for FIs
- Graph 9: planned new financial accounts over time, 2024 and 2025
- Tap into Gen Zers’ growing credit card interest with premium offerings
- Graph 10: planned new financial accounts, by generation, 2025
- Gen Zers are highly engaged with annual fee cards, as well as most open to premium cards
- Graph 11: attitudes toward annual fees, by generation, 2024
- Parents’ focus on savings and investment accounts highlights a focus on financial security and future planning
- Graph 12: planned new financial accounts, by parental status, 2025
- Financial goals for 2025
- While saving reigns as the top financial goal, consumers are exhibiting a greater shift toward non-essential spending
- Graph 13: highest priority financial goals, by rank, 2025
- Gen Zers consistent prioritization of investing indicates an addressable audience for brands to tap into through wealth-building messaging
- Graph 14: Gen Zers’ financial priorities over time, 2024 and 2025
- Cater to Millennials’ desire for indulgence and enjoyment, while balancing messaging around long-term financial planning
- Graph 15: Millennials’ financial priorities over time, 2024 and 2025
- Desired features
- Satiate consumers’ appetite for saving and earning through interest-bearing products
- Graph 16: desired features from new accounts, 2025
- While most seek digital features, Boomers value in-person interaction – highlighting the need for FIs to cater to customers’ diverse preferences
- Graph 17: desired features from new accounts, by generation, 2025
- Value propositions that highlight both quantitative and experiential benefits will resonate with women
- Graph 18: desired features from new accounts, by gender, 2025
- Financially struggling consumers are more likely to value immediate and tangible ways to enhance their finances through earning potential
- Graph 19: financially struggling consumers’ desired features from new accounts, 2024 and 2025
- Rewards can be the difference maker in acquiring the businesses of Gen Z men
- Graph 20: desire for rewards in a new category from a new financial account, by generation and gender, 2024 and 2025
- Desired financial support
- Strengthen customer trust through proactive financial support solutions
- Graph 21: desired forms of financial support, 2025
- Stimulate parents’ appetite for improving their financial literacy with education-driven outreach
- Graph 22: desired forms of financial support, by parental status, 2025
- Consumers in unfavorable financial situations desire targeted support – a call-to-action for FIs
- Graph 23: desired forms of financial support, by financial situation, 2025
- Affluent consumers’ desire for investment support underscores their expectations for the banks to act as financial advisors
- Graph 24: desired forms of financial support, by household investable assets, 2025
- Personal finance confidence
- Consumers generally display high levels of confidence in their personal finances, but complex areas require closer support from FIs
- Graph 25: personal finance areas consumers are confident about, 2025
- Younger generations need more guidance on saving for retirement, while older generations need more investment advice
- Graph 26: confidence in investing and retirement planning, by generation, 2025
- Lower levels of confidence among struggling consumers necessitates the need for more hardship offerings, as well as educational support from FIs
- Graph 27: % of consumers confident about financial wellness areas, by financial situation, 2025
- Attitudes toward financial services
- Young adults perceive switching banks as difficult, but they’re willing to engage in new banking relationships for the right price
- Graph 28: attitudes toward switching banks, by generation, 2025
- AI can democratize low earners’ access to financial advisory
- Graph 29: openness to AI-power financial advisors, by household income, 2025
- Hybrid advisory models can speak to investors’ desire for emerging tech, while still retaining the human touch
- With crypto firmly entrenched as an investment vehicle, Gen Zers are poised to convert their interest into adoption of the asset
- Graph 30: Gen Zers’ attitudes toward cryptocurrency over time, 2023-25
- Boomers are the least open to biometric authentication, likely a result of concerns with sharing their data
- Graph 31: attitudes toward biometric authentication and personal data security, by generation, 2025
- Younger adults don’t mind sharing their data across FIs to get better offers, indicating an audience that would be engaged with open banking
- Graph 32: openness to sharing data with FIs, by generation, 2025
INNOVATION AND MARKETING STRATEGIES
- Marketing and advertising
- Investment marketing continues to rise, while mortgages and loans remains low
- Graph 33: share of marketing spend, by subindustry, 2023-2024
- Chase touts its financial guidance capabilities
- Citibank combines an introductory savings rate with a cash bonus
- American Express highlights aspirational travel
APPENDIX
- Consumer research questions
- Consumer research methodology
- Generations
- Abbreviations and terms
- Meet the expert

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