If you’re a community bank or credit union, you’re no doubt looking to attract millennials. Most likely, your current customer base skews older, and millennials provide an opportunity for years of growth and new revenues. But where do you begin? Here are a few ideas:
Of course, you have a great mobile app (or do you? – if not, start there!) But have you looked at the future, and are you staying ahead of the changing technology? Currently many apps can track your balance, allow you to move money from one account to another, and even deposit checks. But soon, that may not be enough. Reports show that over 70% of millennials would prefer to bank with large tech companies such as Google or Apple if they offered financial services. This is because they believe they will deliver a faster, more intuitive experience. Features like thumbprint identity or money transfers between people through a simple text message or phone number will become extremely desirable.