Bank Innovation

MAY 22, 2017

The millennial generation is saving money—just not to leave the work force. The majority of millennials, at 63%, are saving towards their “desired lifestyle” rather than towards retirement goals, according to the Spring 2017 Merrill Edge Report by Bank of America, released on Friday.

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Millennials America Report 259

Bank Innovation

MAY 10, 2017

Talk about financial innovation has centered around millennials for years now — so much so that Ron Shevlin, the industry consultant, recently called Baby Boomers the “emerging” sector in fintech. That sector of people older than 50 now numbers 111 million — and is rapidly growing — in America.

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Millennials America Innovation Fintech 225

Bank Innovation

DECEMBER 12, 2017

Global payments technology company Mastercard is opening a new platform aimed at the financial management needs of the millennial generation, the company announced today.

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Millennials Management Innovation Payments 231

Bank Innovation

NOVEMBER 1, 2017

Social investing is a popular concept among millennials looking to invest, but many of this generation’s investors have yet to start such invest in a “socially responsible” manner, according to a study by Swell Investing.

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Millennials Study Management 273

Bank Innovation

JULY 27, 2018

Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Currently, millennials’ combined financial assets come up to $4.5 Marketing investment options and robo-advisors to this mobile-centric group will require a specific strategy. trillion in wealth.

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Millennials Study Strategy Mobile 277

Bank Innovation

APRIL 5, 2017

61% of investors in the millennial generation are saving for retirement, buying a home, or for other long-term financial goals, according to a survey conducted by digital investment company Stash. This somewhat goes against the popular perception that savers in the millennial generation are both rare and only interested in short-term rewards.

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Millennials Survey Company Online 225

Bank Innovation

MAY 12, 2017

Millennial consumers still prefer third-party money transfer systems, such as PayPal, over card-branded (e.g. More than half (52%) of millennial consumers (ages 23 to 37) said they use third-party money transfer systems, compared to only 29% who use card-branded digital wallets, and 22% that use device-specific wallets, […].

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Millennials Branding Mobile Cards 239

Bank Innovation

APRIL 11, 2017

One fourth of full-service millennial investors have either tried, or are actively using, a robo-advisory platform, according to a new study by J.D. The study suggests that millennials have now accumulated enough wealth to be in the “sweet spot” for engaging a wealth manager.

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Millennials Study Management Technology 231

PYMNTS

MARCH 13, 2020

Recent research finds that 67 percent of millennial business owners operate independent companies rather than franchises. Recent research finds that 67 percent of millennial business owners operate independent companies rather than franchises. They carry their payment innovation expectations into the business world. “If

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Millennials Taxes Innovation Operations 160

Bank Innovation

SEPTEMBER 12, 2017

EXCLUSIVE – Millennials are famously credit-averse, but this means they risk losing out on building a credit history, which is necessary for, among many other things, getting a mortgage when they want to buy a home.

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Millennials Cards Online Innovation 277

Bank Innovation

NOVEMBER 8, 2017

But do millennials trust that digital currency more than traditional banks? The rising popularity of Initial Coin Offerings has put digital currency bitcoin more in the public eye, to say nothing of its skyrocketing valuation. Presently, a single bitcoin is worth just under $7,500.

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Millennials Bitcoin blockchain Survey 244

Bank Innovation

JUNE 14, 2017

Millennial investor habits were most strongly affected, the survey of more than 15,000 global investors […]. Most investors still count themselves as “influenced” or “strongly influenced” by the events of the financial crisis, according to the Legg Mason 2017 Investment survey released recently.

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Millennials Survey Innovation 225

Bank Innovation

NOVEMBER 15, 2017

The most optimistic owners are millennials, according to data from the Bank of America Fall 2017 Small Business Owner Report. The survey of about 1,000 small businesses, released last week, found that the majority of millennial entrepreneurs (81%, the survey […].

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Millennials Survey America Data 239

Bank Innovation

MARCH 8, 2018

While millennials remain the top adopters of mobile banking, the generation is also more likely to have problems with their financial apps, a new survey released by online mobile payment and identity verification company Jumio found.

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Millennials Mobile Survey Online 218

Bank Innovation

APRIL 24, 2017

Money payment apps have gained enough momentum to prompt banks to come up with their own millennial-focused money movement solutions. But despite all the effort FIs put in duplicating the seamless experience of popular payment apps, millennials still seem to be sticking with Venmo, or skipping those apps all together.

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Millennials Payments Report Online 223

PYMNTS

AUGUST 23, 2017

As more millennials become adults and baby boomers pass on, these young adults will have larger purchasing power. Census, shared that the number of millennials (75.4 Given these figures, and varying degrees of purchasing power, and interest in trying out new technologies in everyday settings, millennials seem to have the upper hand.

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Millennials Industry Groups Study 196

Bank Innovation

AUGUST 30, 2016

Despite the ongoing efforts of banks to attract millennials, they are still failing to make an impression. According to Gallup, only 23% of millennials are actively engaged with their bank, making millennials the least engaged generation.

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Millennials Online Technology Fintech 218

Bank Innovation

JANUARY 13, 2020

When [millennials and Gen […]. As retailers seek to increase customer purchase volumes through point-of-sale loans, PayPal is setting itself apart from competition through its brand recognition, the speed of its underwriting process and its relationships with hundreds of millions of consumers.

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Millennials Retail Branding Customer Experience 259

Bank Innovation

OCTOBER 6, 2016

She hasn’t sought venture capital funding; she doesn’t do beta and she isn’t pitching to millennials, the demographic du décennie. Janice Diner is not your typical startup founder. On going forward without backers, the CEO of Horizn says: “We never do anything for free. We get paid for what we do.”

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Millennials Innovation Capital Operations 292

Bank Innovation

JANUARY 5, 2018

Automated investing platform Wealthfront has just closed a $75 million round of funding, which will be used to build out its millennial-focused platform, the company announced yesterday.

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Millennials California Software Capital 225

Bank Innovation

FEBRUARY 6, 2018

Most of this funding (75%, according to figures, it released last week) went to millennial homebuyers, the majority of which were also first-time […].

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Millennials Company Online Lending 218

PYMNTS

FEBRUARY 10, 2020

In 1910, the world of foil enjoyed its most important historical innovation: The Swiss figured out how to make it out of aluminum instead of tin. Therefore, the company must always be innovating its offerings, despite the fact that Reynolds wrap has been a successful product for 73 years. Moving On Millennials .

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Millennials Innovation Groups Marketing 181

Bank Innovation

APRIL 6, 2018

Millennial women have the funds available to start investing, but are held back by a fear of beginning the process, as well as the typical reason most millennials aren’t investing: debt, a study released yesterday by loan provider SoFi found.

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Millennials Study Lending 186

PYMNTS

JANUARY 13, 2020

Millennials have long been sought-after travel and hospitality customers, partly because they are perfectly placed to seek such experiences. This unique status creates both opportunities and challenges for firms in the space, as millennials search for the experiences they crave. Furthermore, millennials are set to spend $1.4

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Millennials Branding Mobile Data 154

PYMNTS

APRIL 13, 2020

There has been similar growth in mobile disbursement interest in the business-to-business (B2B) space as well, especially as more millennial and Gen Z workers join firms’ staff. Millennials are among the top financial app users: 94 percent of surveyed millennials use P2P apps like Venmo and Zelle.

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Mobile Innovation Millennials Payments 232

PYMNTS

DECEMBER 18, 2018

Millennials value experiences over things, as the familiar digital age adage goes, but sometimes millennials do, in fact, need actual things , such as sofas, beds and tables to furnish their apartments and houses. The Wall Street Journal also noted that “transparency rates highly for a typical millennial site.”

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Millennials Branding Retail Strategy 165

PYMNTS

AUGUST 26, 2019

Retailers looking to engage tech-savvy millennials and Gen Z consumers are quickly doubling down on their efforts to offer more visual content and enhance the discoverability of their products and services. A survey conducted last year found that 62 percent of millennials prefer visual search over other search methods.

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Millennials Retail Tools social media 185

Bank Innovation

FEBRUARY 12, 2018

Mobile banking has officially gone mainstream: 55% of U.S. adults have at least one full-service banking app on their phones now, according to a study conducted by BankRate. Additionally, those consumers with bank apps are active users, with 70% stating that they use their app at least once a week, the survey of 1,156 adults […].

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Millennials Study Survey Mobile 297

PYMNTS

APRIL 9, 2019

Retail innovation labs – incubators or tech hubs – aren’t confined to operations run by the likes of Amazon or Walmart. A new lab store from 7-Eleven underscores the innovation wave that is taking place in the convenience store sector of retail – a sector ripe for change, disruption and growth. stores with the innovation.

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Innovation Millennials Dallas Retail 155

PYMNTS

MARCH 2, 2020

It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . According to the latest edition of the Innovation Readiness report, only 22.3

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Innovation Data System Mobile 222

PYMNTS

JULY 15, 2020

Avid Modjtabai, Wells Fargo’s head of Payments, Virtual Solutions and Innovation, said at the time that “whether you are new to banking, don’t have regular paychecks or typically manage money with cash, we believe the Greenhouse experience can help you manage day-to-day spending while planning for the future.”. For instance, J.P.

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Millennials ATM Mobile Maine 166

PYMNTS

MAY 26, 2020

The data on millennials’ lifetime earnings potential were already fairly grim long before the word “coronavirus” became part of everyone’s daily conversations – and before the U.S. A 2016 paper led by Stanford University Economist Raj Chetty found that millennials were in deeper economic trouble than a quick look at the U.S.

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Millennials Study Groups Survey 153

Bank Innovation

SEPTEMBER 18, 2019

Anyone who’s spent a frustrating afternoon explaining Facebook privacy settings to their parents can tell you that millennials are naturally good at technology.

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Millennials Management System Technology 150

PYMNTS

DECEMBER 31, 2020

When you look at the spending graphs for millennials at that time, debit was growing at twice the speed of credit, but the average order value was much lower, which correlates with the lower disposable income in the demographic at the time,” Molnar noted. The other is technological innovation. According to J.P.

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Innovation Payments Trends Regulation 289

PYMNTS

NOVEMBER 27, 2019

In addressing the innovation gap that exists between credit unions and their larger financial institution (FI) brethren, credit unions (CUs) may be perceived to be at a disadvantage, at least when it comes to dollars. That’s especially true as millennials come up through the ranks, and are both comfortable and confident in using technology.

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Innovation Millennials Technology Examples 215

Bank Innovation

OCTOBER 7, 2016

The nation’s biggest generation– yes, it’s millennials again — wasn’t big enough. Hedgeable isn’t the only startup looking beyond millennials and consumers in general to pitch its wares. Hedgeable, the roboadvisor geared to you-know-who, is expanding its target audience to small businesses.

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Millennials National Fintech Management 322

PYMNTS

AUGUST 23, 2019

In the August edition of the Payments And The Platform Economy Playbook , PYMNTS examines how marketplaces are using technologies such as artificial intelligence (AI) and mobile payments to innovate the customer experience. An AI-Powered Visual Shopping Experience For Millennials, Gen Z. Around the Payments And The Platform E conomy.

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Millennials Trends Meeting social media 165