Speaking Gen Z

.docx
School
University of Wollongong **We aren't endorsed by this school
Course
ECON MISC
Subject
Business
Date
Nov 17, 2023
Pages
6
Uploaded by nit001 on coursehero.com
Speaking Gen Z: How banks can attract young customers Nov 17, 2023 Gen Z has grown up in a digital world, but there's much about traditional banks they like. Image: Unsplash/Julio Lopez Bob Wigley Chair, UK Finance Rupal Kantaria Forum Member, Oliver Wyman Share: OUR IMPACT What's the World Economic Forum doing to accelerate action on Fairer Economies?
THE BIG PICTURE Explore and monitor how Youth Perspectives is affecting economies, industries and global issues
CROWDSOURCE INNOVATION Get involved with our crowdsourced digital platform to deliver impact at scale Stay up to date: Fairer Economies Gen Z attitudes toward money and finances are sometimes aligned with and sometimes starkly different from those of older generations. Research suggests that Gen Z trusts traditional banks more to secure their data and needs digital services to be exceptional to retain their customers. Financial institutions must understand their motivations and values to take a share of this fast-growing market. Like most businesses, financial institutions are often mystified by the quirks and nuances of Generation Z. Misunderstanding this sometimes confusing cohort of 20-somethings could prove costly. Gen Zers make up roughly 15% of the UK workforce - and their influence will only continue to increase, with commensurate jumps in spending and investing power, as more members reach working age and the group enters its prime earning years. Have you read? How Gen Z are reshaping the healthcare industry Future of banking: 5 trends reshaping a sector in turmoil This is what's worrying Gen Z and millennials in 2023
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