Intention over Image: How banks can cater to affluent consumers' desire to prioritize "experience" spending

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A transformation is taking place when it comes to affluent individuals and their spending habits. According to recent Mastercard research, 61% of consumers in this group globally say they have become more intentional about pursuing their passions over the past few years, purchasing experiences focused on travel, entertainment and family rather than material items. This mindset shift has been the catalyst for a corresponding strategy shift for banks – including new service offerings and relationship opportunities.

Tune in on Thursday June 26th at 2pm ET as Chana Zimmerman, Editor-in-Chief, American Banker sits down with Bunita Sawhney, Chief Consumer Product Officer at Mastercard, Doug Villone, Head of Cards and Partnerships at Barclays US Consumer Bank, and Mike Cherny, Head of Citizens Wealth Management at Citizens to talk about how banks can cater to this desire to prioritize experience spending and support customers to do more of what they love.

Topics discussed will include:

• The motivations behind the shift from image to intentional spending
• How banks are responding and the future product opportunities they have
• The offerings that are resonating the most with these consumers
• What the impact on the customer relationship looks like now and in the future
• How banks should think about wealth transfers and generational differences

LEADERS is a flagship channel that spotlights C-level executives and top experts as they discuss transformative topics for an audience of key decision-makers. We deliver thought leadership on the most pressing issues driving financial services.  The LEADERS series is made possible by the support from top industry collaborators including Mastercard.