Banking has come a long way from a mobile person providing the basic service of lending & deposits before 2000 BC to the post-2000-AD era of modern full-service banking organizations that exist either as brick-and-mortar and digital/neobanks.
Banks offer various products with the underlying service as deposits and withdrawals—consolidated and (or) distributed. Products and services are offered as debit cards, revolving credit lines, checking accounts, institutional loans, P2P lending, reward points, fund transfers, bill payments, microcredit, cross-border payments, trading accounts, short/long-term investments, and even cryptocurrency ATMs. This holds true for the conventional target segment—adults. But what about banking products services for teens and youth? What’s new here, and why should banks care about this segment a bit more? What are the expectations of this Gen Z and Gen Alpha as potential loyal clients for banks? |
