Industry Insights: Millennials, Take Two…
…or is it ten?
Millennials have come into their own, from becoming makers and managers who now outnumber their parents in the workforce, to rising activist wunderkind like the Parkland survivors. They tend to know who they are and what they want.
Among other things, they want every kind of financial service. Millennials are our largest and fastest growing source of opportunity, and are busily setting their financial tables—not minding if their services are unbundled, so long as they are convenient. And, preferably, socially respectable.
Excuse us for mentioning it, but millennials also probably know technology and the “user experience” better than many of us do. Lots to learn, then, so check out this newly-published information—and keep in mind that Alogent is accomplishing its mission to serve the whole financial ecosystem, by being customer-centric, and technically open and adaptable:
Millennials and Money: A new era of wealth management. Accenture. Even the abstract for this new study contains some valuable information about the habits and choices of millennials. But, the study warns, “a one-size-fits-all client experience—even within a demographic—simply does not work.” The underlying study is packed with information that will help you go deeper.
Real Lessons from a Fake Millennial Credit Union. CreditUnions.com. [Hint: It’s not just about credit unions.] The people at Callahan must have had some fun imagining how an institution created just for millennials would be different from anything out there. Take a look at the six priorities that were left after they spent time winnowing the list down.
Banking Providers Need to Overhaul Lending for Digital Millennials. Financial Brand. Millennials don’t mind borrowing, but want better alternatives to credit card debt. The article has insights not just into competitive loans, but into the demographic itself, seeing millennials in two distinct groups. Wake up, everybody else, the biggest banks and non-traditional providers are leading the pack.