Generation Z & Millennials are the newest members of the financial world, & their shifting financial habits are already beginning to reshape the banking & payment industries as we know it. Although Gen Z & Millennials differ slightly in their financial behaviors, their outlook on moneyhow to make it, spend it, save it, & invest itare quite similar. Generally speaking, these younger generations value the digitization of banking & payment platforms, user friendliness, & reliable & speedy technology; they desire financial products that consolidate & resolve debt, that teach them how to handle finances better, & invest in their future with considerably less savings than past generations had saved at their age. Finally, they are attracted & arguably stay loyal to companies whose missions create social value.|
In this conversation, we will hear from both incumbent financial institutions & emerging FinTech startups on their take on emerging Gen Z & Millennial banking & payment trends. How are financial institutions adapting their products & servicesand creating new onesto fulfill the shifting demands of our next generation? What obstacles are they facing? What opportunities are there to gain?
This conversation will be moderated by Julie VerHage, Editor-in-Chief at FinTech Today. Panelists include:
-Adrienne Yih, Managing Director, Consumer Discretionary Analyst at Barclays
-Neel Ganu, Founder at Finch
-Stuart Sopp, CEO at Current
Additional panelists to be announced.
-Identifying emerging trends among Gen Zers & Millennials & seeing how they are impacting the world of banking & payments.
-Why alternative banks are successful in challenging traditional banks & what role the younger generation has to do with such success?
-What must traditional financial institutions learn from FinTech startups in order to survive & thrive?
-To what extent are shifting financial priorities among the younger generations influencing traditional & Neo-banks to create new products that are generationally-specific? How do you create for the younger generations & not leave the older generations behind?
-What happens to those financial institutions that don't take into account Gen Z & Millennials' financial priorities into their models? Do they get left behind?
-In this climate, can the social value of a product be separated from the product's value? Why finance & FinTech companies with a clear social mission are succeeding.
-Emerging financial technology has arguably increased the opportunity to reach & grant historically underserved communities access to financial resources. What responsibilities, if any, do finance & FinTech companies have to extend such access to Gen Zers & Millennials in these communities?
*The link to access the discussion will be sent to you prior to the event & will be accessible on this event page.