First thing’s first, about 67 million Zoomers make up 20% of the U.S. population, and 64% of Zoomers look for a more personalized banking experience. With so many Zoomers entering the financial sector, it is important to understand what banks, credit unions, and community banks can do to entice Zoomers to choose them. From increasing technological services to making their products and services fast and efficient, financial institutions can do so much to attract their younger audience.
Credit unions tend to be community-oriented and offer lower rates, which are qualities that particularly resonate with Zoomers. However, to attract the Gen Z population, credit unions will have to make many technological advancements. As mentioned in the previous blogs, Gen Z values speed and efficiency. With P2P companies on the rise, e.g., Cashapp and Zelle, Gen Z wants to see more digital payment services due to it being one of the fastest-growing methods of payment. If this falls short in any way, Gen Z will gladly turn to anything that provides them with a quick and high-quality solution.
Offer Financial Education and Benefits
Small things such as reward schemes and benefits will appeal to Zoomers. They would more preferably seek a financial institution that can expedite and improve their experience. As previously mentioned, Gen Z is interested in learning about financial education. Making their learning process easy can help them become more financially self-sufficient and conscious. Including informative ways Zoomers can have a more reliable financial experience, such as personalized budgeting advice or money management tips, will help them explore their options. Making the financial learning curve easier by using integrated systems will allow them to become more financially independent and aware. In turn, this will improve the experiences of such services.
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