Recent years have seen much discussion regarding millennials’ entry into the workforce, spending and financial maturation. But as the oldest millennials approach 40, Gen Z banking is zooming into focus for the financial services industry.
Generation Z (also nicknamed Zoomers or iGenn) is the demographic cohort born between 1997 and 2012 and represents roughly 40% of American consumers. To speak generally, this diverse generation is mobile and has an entrepreneurial spirit. As such, many are also financially minded.
So, just as they’re expected to make up to 30% of the labor force by 2030, they’re also anticipated to drive trends in the financial services industry. Here are some notable pointers to consider when taking your institution from point A to Generation Z.continue reading »