The global banking & payments industry experienced a 24% drop in company filings mentions of financial wellness in Q2 2023 compared with the previous quarter, with the highest share accounted for by Bank of Ireland Group with 55% year-on-year increase, according to GlobalData’s analysis of over 176 banking & payments company filings. GlobalData’s Banking and Payments Predictions in 2023 – Thematic Intelligence report includes a detailed analysis of the impact of financial wellness and other key themes such as AI, conversational platforms, and cybersecurity on the banking and payments industry. Buy the report here.
Notably, financial wellness was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of batteries and edtech, according to GlobalData.
Of the top leading companies in the banking & payments industry, Bank of Ireland Group had the greatest increase in references for financial wellness in Q2 2023, compared with the previous quarter. GlobalData identified 34 financial wellness-related sentences in the company's filings - 2% of all sentences - and an increase of 55% in Q2 2023 compared with Q2 2022. PayPal’s mentions of financial wellness dropped by 33% to 10 and Mastercard’s by 133% to 7 and BDO Unibank’s by 100% to 6 and Apollo Global Management’s by 300% to 4.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for financial wellness in Q2 2023 was 104.
For further understanding of GlobalData's Banking and Payments Predictions in 2023 – Thematic Intelligence buy the report here.