November 13, 2017
Millennials (18-36) are the most likely to turn to alternative financial services, notably person-to-person payments like Venmo but also high-fee services like check-cashing and short-term lending.
Here are three ways banks can attract millennials by encouraging them to improve their financial situation:
Overall, the challenge for banks is to build trust with millennials. The best way they can do that is to make it easier for them to use and understand mainstream banking services.
Tags: Customer Segments, Digital, Payments