{"id":8859,"date":"2018-03-07T08:00:35","date_gmt":"2018-03-07T08:00:35","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=8859"},"modified":"2018-03-07T06:31:27","modified_gmt":"2018-03-07T06:31:27","slug":"how-generations-y-and-z-are-changing-how-banks-operate","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/how-generations-y-and-z-are-changing-how-banks-operate\/","title":{"rendered":"How generations Y and Z are changing how banks operate"},"content":{"rendered":"

The rise of generations Y and Z (as known as millennials and homelanders respectively) is changing how banks operate and will operate in the future. Generation Y is currently changing the game:<\/p>\n

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  1. Banking including in everyday services, making purchasing easier<\/li>\n
  2. Integrated approaches and real-time interactions<\/li>\n
  3. Changing the focus from products to service<\/li>\n
  4. Banking convenience measured by usefulness of applications<\/li>\n
  5. Having \u201cpersonal\u201d relationships with banks, not just making transactions<\/li>\n<\/ol>\n

    While banks are addressing the needs of generation Y, generation Z is already starting to become active in banking, having influences of their own:<\/p>\n

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    1. New creative ways of engagement (e.g. pictures, games)<\/li>\n
    2. Artificial intelligence to support customers<\/li>\n
    3. Financial services provided through social networks<\/li>\n
    4. Increased purchases via mobile devices<\/li>\n
    5. Reimaged bank branches<\/li>\n
    6. Increased financial service competition from big-name brands (e.g. Google, Amazon Apple)<\/li>\n<\/ol>\n
      \n\n