Financial Services

Category Description

Jul 03, 2023

Insights for Financial Institutions to Attract and Retain Millennials and Gen Z

by Shrutika Desai

Millennials and Gen Z are rewriting the rules of personal finance, seeking financial freedom, and embracing alternative financial solutions that align with their values and preferences. Tech-savvy and research-driven, they have unique expectations and preferences when it comes to financial services, and traditional financial institutions must adapt to stay relevant. While attracting younger generations is critical across verticals, the financial services industry places a high value on younger consumers who (hopefully!) may become loyal lifelong customers. So, what can they do to attract their target audiences? Unsurprisingly, we turn to the data. Winning with millennials and Gen Z In May 2023, Sogolytics conducted a census-based study of 1000+ consumers in the US with the intention of understanding their banking preferences. In a recent webinar, our team showcased selected findings. During this highly informative 50-minute webinar session, the presenters and participants explored the following key areas: What it takes to win with Gen Z, millennials, and other generations How consumers prefer to get info and to interact with primary financial institutions How to keep track of the evolving expectations of your target audience How to add fintech advantages while staying true to your organizational and community values Here is a glimpse of a few key insights and strategies shared during the webinar for financial institutions to attract and retain millennials and Gen Z customers. Consumers’ banking priorities While many articles on how to choose a financial institution lead with suggestions that consumers should consider the institution’s values and carefully evaluate the […]

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