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Speaking Gen Z: How banks can attract young customers
Article

Speaking Gen Z: How banks can attract young customers



Editorial Rating

8

Qualities

  • Overview
  • Background

Recommendation

Generation Z – those born between 1997 and 2012  – is a burgeoning cohort of young consumers disrupting the financial services industry. Though this group relies on digital offerings, a good portion of Gen Z believes brick-and-mortar banks offer a sense of security. Bob Wigley, chair of UK Finance for the World Economic Forum, and Rupal Kantaria, partner at Oliver Wyman, delve into the gen Z mindset – their spending, saving and investing habits – and explain how financial services companies should strategically approach this population. Investors and banking executives will find valuable intelligence in this informative report.

Take-Aways

  • Generation Z’s rising financial stature has implications for conventional banking. 
  • Digital financial tools are a core component of gen Z’s approach to financial management. 
  • Gen Z individuals are active investors who spread their funds among equity, credit and digital asset markets.

About the Authors

Bob Wigley is chair of UK Finance for the World Economic Forum. Rupal Kantaria is a partner at Oliver Wyman and a World Economic Forum member.


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