"COVID-19's Impact on the Financial Services Industry"
Data is always critical to marketers, and during times like these, when unprecedented change happens quickly, there is unique value in having access to and understanding live data that changes at the speed of our fast paced world. Quantcast is on a mission to radically simplify advertising on the open internet, which starts with a deep understanding of audiences and the ability to measure, evaluate, and activate them with unprecedented speed and simplicity.
The insights below tap into Quantcast’s live, first-party data set to examine how financial services audiences are changing during COVID-19. To access the full report, visit Quantcast.com.
Online banking saw an initial surge when lockdowns commenced, followed by an investing boom
- Traditional banking institutions were the first to see an uptick in online activity, as consumers initially assessed how much cash they had available.
- Driven by a new awareness around financial well-being and a bear market, many then started looking into investing opportunities.
Investment activity appears to increase as a result of casino closures
- When comparing time periods before and after the March pandemic peak, Nevada stands out for its increase in investing activity. Reports indicate this uptick is “at least partly a function of a world with no casinos, no sports betting to speak of, and little to do outside the home.” (cnbc.com)
Financial activities that have gained momentum within the frequent investor segment
- We observed that the under 40 crowd increased their credit, debt, and loan activity.
- Considering that unemployment hit the under 40 crowd at elevated rates, we suspect this group is more likely to evaluate their debt before considering investing.
Quantcast is an audience intelligence and measurement company headquartered in San Francisco. Combining machine learning, a privacy-by-design approach, and live data drawn from more than 100 million online destinations, Quantcast provides software, information and advertising services for marketers, publishers and advertising agencies worldwide. Founded in 2006, Quantcast has employees in 20 offices across 10 countries.
SPONSORED BY QUANTCAST IN PARTNERSHIP WITH THE FCS.