Issue link: https://resources.envestnet.com/i/1527486
7 © 2021 Envestnet, Inc. All rights reserved. When Everything Becomes Financial Services Behavioral science talks about integrated experiences. Behavior influences behavior. What does this mean? Let's find a trend and ride its path to personal finance. Imagine support that guides decision-making and leads to better financial outcomes from interconnected experiences across brand interactions (Starbucks, Peloton, Amazon, etc.). A modernized financial services mindset that puts the consumer in charge. day, and you try to go the extra few minutes or push the numbers, so that when you are done, you have made a bit more progress. Finance can be the same. It has to be encouraged, results need to be evidenced, inspiration needs to be offered … but people still have to do the work. Better, integrated experiences. What if Peloton or Fitbit had a widget that said, "do the same with your money." What? What if they offered to sweep a dollar amount you set for every mile to a goal account? They already have access to an account of yours, so what if they added a savings app that you can bucket for a goal? Let's call the goal, Hawaii – that's on your bucket list. What if Peloton pitched in an extra nickel for every mile? What if they made more revenue from you on banking fees and savings transactions than they do on your monthly fee and and equipment purchases? This is called embedded finance: where finance meets the consumer in places they engage. For this example, "Getting in Shape" now has an integrated benefit for me, a financial incentive that fuels my goals. My results extend beyond miles to dollars and yield on dollars I've stashed away … while exercising. "Getting in Shape." Fitness has become a highly digitized experience, and yet the work, the sweat, labor (let's call that pain), and discipline still need to come from you. The telemetry on your wrist that tells us steps, miles, calories, kilowatts, time, rating, ranking, heart rate, oxygen rate, and whatever else you can figure out informs, learns, and calibrates for you. But you still need to do the work. You just know much more about it now. It helps you optimize. It helps you judge progress. It becomes your pal. It is integrated into a behavior, powered by YOU. As you measure, you find a degree of discipline. You begin to see results. It gets you up the next