Banks and credit unions that get past negative stereotypes will find opportunities to help young adults as they build business.
Millennials are becoming the biggest consumer and small business owner groups. But smart community banks can land their business.
Yes, technology can advance customer service. But it needs to support a commitment to serve customers through every step of their banking journey.
Millennials and mobile are transforming retail banking. Yet they’re also quick to change platforms if their needs for speed and ease of use.
While bank wealth management groups may not find their younger clients to be profitable initially, working with them is important for the future.
Christopher DeAngelis says Millennials, though raised in a digital milieu, must step up to keep their bank information secure.
To optimize marketing efficiency and performance, financial institutions need to enhance their core data, segment their audience, use consistent messaging across channels and use closed-loop attribution to measure performance.
While Millennials are certainly more tech-savvy than previous generations, they also display a surprising preference for opening checking accounts at the branch, which provides cross-sell opportunities for financial institutions.