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Take Millennials' Stated Banking Preferences with Grain of Salt

American Banker

The inconsistency between what millennials say on surveys and their actual behavior should make bank marketers skeptical about building programs around such research.

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Why Millennials and Gen Z Love the Biggest Financial Institutions

The Financial Brand

The post Why Millennials and Gen Z Love the Biggest Financial Institutions appeared first on The Financial Brand. Younger adults want both technology and personal support from their banking provider. Right now, the megabanks are best at providing both.

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Fintech'ers Will Be Right on Branching. Unless Bankers Act.

Jeff For Banks

I also believe that branches can be developed as competitive advantages for community financial institutions. Much like the credit union CEO thinks his branching strategy differentiates his CU. But, as our current strategy execution stands, there is much work to be done. The red: millennials.

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Bank Branches Are Dead. Long Live the Branch!

The Financial Brand

A solid case can be made to stop building new branches. But with Millennials and Gen Z years from profitability, catering solely to them is a big blunder. The post Bank Branches Are Dead. Long Live the Branch! appeared first on The Financial Brand.

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Digital Overtaking Branches as the Place Consumers Get Advice

The Financial Brand

Shift is powered by Millennials' love of interactive mobile banking tools. The post Digital Overtaking Branches as the Place Consumers Get Advice appeared first on The Financial Brand. Biggest banks have clear edge over regionals, consumer study shows.

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Branches Refuse to Die: Millennials Seeking Loans Visit Branches Most

The Financial Brand

Most consumers still visit branches regularly, proving that branch banking continues to play a critical role in the delivery of retail financial services.

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How About Profits in the Branch of the Future?

Jeff For Banks

mBank’s light branch depicted above is located in a mall. Malls are experiencing difficulty in the United States, as millennials opt for smaller, urban environments to shop. This highlights an important banking concept: revenues are mostly driven off of balances, not activity. And the rest of us are increasingly buying online.