Banks to adopt YouTube metrics

Ms Gray said many ANZ customers use its app to manage cash flow and have been engaging with its fintech partners but she acknowledged banks will need to create the “kind of functionality that puts consumers at the centre – so it’s not a product-centric world, it’s much more of an experience-centric world.”With Afterpay executive vice-president Lee Hatton telling the summit it had designed a product that “brings joy” to customers, other buy now, pay later providers are set to roll out new features against the banks.Zip co-founder Peter Gray said its 2.5 million customers are highly engaged and Pocketbook, a financial management app Zip purchased five years ago, could soon be rolled into the Zip app.It would provide cash flow and budgeting tools, savings tools and tips, and insights into spending. Down the track, Zip might consider expanding into crypto, or even share trading.“In the future, there’s a high chance that BNPL becomes commoditised, so we have very strong ambitions to expand on our digital wallet and continue to expand our product offering with regards to payments,” Mr Gray said.But it was unlikely Zip would follow Afterpay’s banking-as-a-service strategy with Westpac, saying it might consider a “high-coupon savings product…
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