Millennials, Mobiles & Money

Millennials have now become the largest demographic
group on the planet that make up one in three people in the population. They’re not only
customers, they are employees, they are investors and they are policy makers. They want experiences
that value add to their lifestyles and they expect products and services to just be the
means to that end. This is the demographic group that is seeking new experiences, new
ways of providing financial services that are different to what’s provided by traditional
institutions today. We’re now living in a mobile first financial services world. And
in a mobile first financial services world it’s all about personalisation. Just as easily
as they can commence a relationship with you through that device they can also terminate
that relationship as well. Trust to a millennial means four things. Trust to keep my finances
secure. Trust to keep my personal information secure. Trust to keep private the interactions
I have with the institution. Then lastly, the reputation of the institution as a whole.
This is an area of priority for institutions to get right so that they’re providing the
right capacity through the right channels to deliver the right experiences to the right
customers at any given point in time. Just because they’re connected doesn’t mean they’re
listening. It’s a question of how you create services through those applications that add
value to a millennial’s life. That is really at the heart of what their expectations are
in their relationship with you.

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