Many people would rather not handle cash or touch a germy ATM in the era of COVID-19, and as a result, the wallet is facing potential extinction. Given that the wallet is a traditional entry-level product, luxury brands will have to innovate to attract new audiences.

Gen Zers are increasingly prioritising banking that’s both ethical and sustainability-minded. Tomorrow, a challenger bank founded in Germany, positions sustainability as its top goal, leading the way for brands to merge necessary service offerings with values-driven behaviours.

Digital wallets were gaining ground well before COVID-19 struck, but the pandemic accelerated their uptake as people prioritized contactless transactions. As well as offering a more hygienic way to make purchases, how might these tools enable Americans to make the most of their money?

Tonik is one of the first completely digital banks on offer in the Philippines, providing users with easy-to-access financial services. It offers safe and secure platforms and transactions and, perhaps more importantly, a 6% interest rate to attract customers and gain their trust.