Web 2.0? (Virtual Banking)
- Date:April 13, 2008
- Author(s):
- Mercator Research
- Research Topic(s):
- Digital Banking
- PAID CONTENT
Overview
If banks are serious about attracting, acquiring and retaining relationships with Generation Y, they need to jump at developing Web 2.0 business strategies. In the following decade, GenY (born 1978-1989) will all have entered the workforce and by 2017, Javelin Research and Strategy estimates the group's income will reach $3.48 trillion dollars. At that point, GenY will be the banking's most sought after customers and they will not only be retail customers of the bank, they will also be its small business and business banking customers.
Book a Meeting with the Author
Related content
The Shift to Tech Companies Continues, but Banks Still Hold the Advantage
Fintechs and tech giants have become deeply embedded in the operations of small businesses, capturing incoming and outgoing payments, lending and more, and steadily pulling engagem...
Better Bank Switching: 3 Digital Priorities on the Path to Primacy
The complexion of bank switching has changed in the past decade, and customer stickiness is a harder factor to lock in. FIs need to take a broader view of what makes a successful b...
Pitching Personal Loans With Purpose
Personal loans are not viewed by borrowers as generic lines of credit but rather as ways to meaningfully advance their lives. Banks have an opportunity to position themselves as ap...
Make informed decisions in a digital financial world