Ignore Millennials at Your Own Risk


At a recent conference primarily for credit unions and small banks, I participated in an interesting discussion about the future role of banks and legacy payments for person-to-person (P2P) payments. Few of the attendants offered a P2P solution as part of their online or mobile banking platform and those that did claimed the product was seldom used, if at all. There was consensus that a majority of their customers just aren’t interested in this product.
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Is Gen-Y The Best Target for Mobile Banking Services?


When marketing mobile banking services, banks and credit unions tend to focus all their energy on Gen-Y. But there’s a juicier segment to target.

The other day, my daughter asked me what my favorite app was when I was little. My answer: pigs in a blanket. Gen-Y consumers may have grown up with the internet, but the next generation — Millennials — are growing up with the internet in their (parent’s) pocket.
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Millennials Find Banks Irrelevant


A three-year study from Scratch, an in-house unit of Viacom, found that a third of millennials believed they won’t need a bank in the future. These millennials, defined as those between ages 18 to 33, also ranked the top four banks in the “ten least loved brands” and would rather go to the dentist than to their bank.
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How Three Credit Unions Are Cultivating Relationships With Gen-Y Members


Financial services organizations have a keen eye on the highly-regarded Gen-Y consumers and are spending considerable time, money and marketing resources trying to attract and keep them. Here’s how three credit unions are forging relationships with members that are built on trust, service and loyalty.
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Millennials see banks as irrelevant


I think its time to revisit the relevance of demographic shift in terms of technology adoption.  What got me thinking about this was this report from Scratch/ Viacom on the Millennial generation, and their thoughts on banks.  The report is not talking about the usual shift to electronic channels.

The report indicates millennials see banks as irrelevant.
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