PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Don’t Abandon Other Segments Just To Appease Millennials

Joseph Walent by Joseph Walent
November 20, 2017
in Analysts Coverage
0
Friendly Fraud Is Not Your Friend - PaymentsJournal

Business people shaking hands after meeting .

2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The article captures several of the undercurrents at play in the retail financial institution sector, but as sometimes happens, the drive of the change is being attributed to a specific generation of consumers, rather than the broader uptake of technology enabled interaction in the services marketplace.

Now that millennials are coming into their own regional banks are going to have to work hard to attract them. The oldest are turning 40 in a few years and they want homes, financial planning, business loans and more. Right now 80% of millennials pick the top 3 big banks and as regional bank clients become older, they need to do more to attract them. The industry calls them HENRYs. [High Earnings Not Rich Yet]

Mercator Advisory Group agrees FIs need to increase their on flexibility and uptake innovations developed to manage and finances. Where we split is that this is the sole purview of the millennial generation. Many of the characteristics attributed to the millennial generation are also exhibited by other generations just somewhat lesser degree. The imperative to improve overall access and engagement is true for all consumer segments FIs serve. That is to say, the ease of use of most recent technologically enabled platforms in transacting with a FI has made it a safe and effective conduct business across the age spectrum. People just want it to work.

Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group

Read the full story here

Tags: BankingCustomer InteractionsMillennials
2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix