Attracting millennials by attacking their challenges

Much has been said about millennials (those born between 1981 and 1996) and how they don’t seem interested in traditional banks—a curious state of affairs, given that people need and use banking services for life. What’s more, millennials in 2019 have abundant financial adventures ahead as they start families, buy homes, invest for retirement and build credit Read More

By |2020-05-27T17:58:06-05:00June 27th, 2019|Comments Off on Attracting millennials by attacking their challenges

From saving time to time to save: The role money plays in millennial lives

Perhaps more than any other generation, millennials embody a slew of contradictions. They labor under a host of pejorative labels: “lazy,” “entitled” and “narcissistic.” At the same time, they have been praised as “entrepreneurial,” “optimistic” and “idealistic.” Nowhere do such contradictions emerge as obviously as in their relationship with money and the role it plays in their Read More

By |2020-05-27T17:58:37-05:00April 12th, 2018|Comments Off on From saving time to time to save: The role money plays in millennial lives

Can community-based banks pass the millennial graduate test?

Across all industries, the hot question is this: How do businesses attract and retain millennials—the largest generation in American history by a landslide? Nowhere does this question resonate so much as in financial services. In fact, The Millennial Disruption Index identified banking as the highest-risk sector for disruption. Thus it’s no surprise that community-based financial institutions (CFIs) are moving Read More

By |2020-05-27T17:59:45-05:00May 4th, 2017|Comments Off on Can community-based banks pass the millennial graduate test?

Generation B: Millennials and the resurgence of branch banking

Millennials, it seems, get the lion’s share of attention these days, especially when it comes to how this first generation of true “mobile natives” will interact with their financial institutions. And this has led the banking industry to develop and deploy digital banking assets throughout the industry—fast. But true to their millennial form, this generation that prefers Read More

By |2020-05-27T17:59:46-05:00April 26th, 2017|Comments Off on Generation B: Millennials and the resurgence of branch banking

Alternative music for millennials: New payment options to win them over

Millennials have fashioned the smartphone into a ubiquitous tool to socialize via Twitter or Instagram or Snapchat; collaborate on projects with Slack; or find and review restaurants on Yelp. So it seems natural that this group would aggressively opt in when it comes to mobile payments, right? Not so much—or, if you prefer, that call is on Read More

By |2020-05-27T17:59:47-05:00April 7th, 2017|Comments Off on Alternative music for millennials: New payment options to win them over

Meet the millennials: Six smart ways to satisfy their banking needs

With the rise of millennials as the largest living generation—and their steady escalation toward becoming the dominant workplace culture—it is increasingly important for financial services marketers to understand the millennial mindset. And it is a different one. They've grown up in a time of rapid change fueled by technology. They don’t know a world without digital and Read More

By |2020-05-27T17:59:47-05:00March 23rd, 2017|Comments Off on Meet the millennials: Six smart ways to satisfy their banking needs

Podcast: Millennials and community banking

How do community banks and credit unions best cater to the needs of millennial consumers and business owners? On the first episode of BAI Banking Strategies' new podcast, we talk with Graham Seel, founder at BankTech Consulting, about the impact millennials and technology have on community-based financial services organizations. Listen to the podcast on Soundcloud.  You can read Graham's Read More

By |2020-05-27T17:59:50-05:00February 3rd, 2017|Comments Off on Podcast: Millennials and community banking

How banks understand — or underestimate — female millennials

When J.P. Morgan Chase pitched its Chase Slate credit card four years ago to Brooklyn College freshman Judy Tan, the bank made the offer by direct mail. She was already a customer of the bank since her father went with her to a branch to help her open a checking account and sign up for a debit Read More

By |2020-05-27T17:59:50-05:00January 25th, 2017|Comments Off on How banks understand — or underestimate — female millennials

The Millennial perennial: How can community banks keep up with customer demands?

In an article last month, I listed some of the major challenges facing smaller financial institutions. One of them is the fact that customers are demanding more and more. The primary distinguishing feature of community banks is their personalized service for small businesses. And the customer is king or queen! Banks must respond – but how? How Read More

By |2020-05-27T18:00:03-05:00December 8th, 2016|Comments Off on The Millennial perennial: How can community banks keep up with customer demands?

Millennials embrace banking innovation

As they overtake Baby Boomers as America’s largest generation, Millennials may not automatically equal mobile tech—but in the banking world, it’s getting pretty close. Mobile banking adoption rates among Millennials are sky high: two in three banking consumers 18 to 29 did some type of mobile banking in the prior year, according to the Federal Reserve’s most Read More

By |2020-05-27T18:00:04-05:00November 4th, 2016|Comments Off on Millennials embrace banking innovation