Alkami Technology’s Post

What do Millennials and Gen Z really want from their banks? 💭 📊 Through a combination of data analysis and desk research alongside Capture Intelligence, we’ve gathered key insights that can help financial brands create more empathetic, transparent, and personalized services. Ready to understand the future of banking? 💳 Explore the full study on our website and discover how to connect with the next generation of customers 🔗 https://lnkd.in/d9aqw4b6 #SAMYAlliance #Millennials #GenZ #SocialListening #finance #banking

"Double Down on Mastering Personalization: Looking ahead, consumer expectations for personalized banking experiences are on the rise, especially among younger generations and affluent households. 49% expect their financial provider to know them, 56% expect clear and actionable insights based on their data, and 53% expect personalized experiences. However, only 46% would be willing to share more data in exchange for better experiences." #ownersrepresentative #financialinstitution #creditunion #credituniondesign #bank #bankdesign #structurefirst

Unlocking What Really Matters to Millennials and Gen Z in Banking This report dives into the evolving expectations of these generations and how banking needs to adapt to stay relevant. 🏦

A new Apiture/The Harris Poll survey reports although 80% of Gen Z and 75% of millennials claim a large bank as their primary financial institution, roughly half would switch to a community bank, online-only institution, or credit union. See why this is an opportunity for smaller financial institutions.  https://lnkd.in/ebDKCKTV #digitalbanking #theharrispoll

2024's Banking Trends: Meet the Five Cohorts Redefining Finance In 2024, five key demographic cohorts are emerging as pivotal players in the banking sector: ➡️ The affluent yet asset-locked Mini-Millionaires ➡️ The industrious, over-employed juggling multiple jobs ➡️ Financially intertwined, multi-generational households  Additionally,  ➡️The Affluent-but-Stuck-at-Home face the challenge of immobile wealth ➡️Gray Divorcees navigate financial independence later in life Each group presents unique opportunities and challenges for financial institutions. For decision-makers in banking, this is your cue. 🛎 Tailoring your strategies to meet the nuanced needs of these diverse cohorts can significantly enhance your institution's relevance and competitive edge.  From investment advice for the newfound wealth of Mini-Millionaires to innovative financial products for the over-employed seeking early retirement or home ownership, the possibilities for engagement are vast. This is where WordCom excels. By leveraging deep data insights and predictive modeling, we help financial institutions like yours to not only identify but effectively engage with these key demographics.  Read more about these demographic shifts here: https://bit.ly/490hvrp Learn more about how we can help: https://bit.ly/483a8Oo

A helpful reminder this week from The Financial Brand emphasizes the need for community banks and credit unions to consider adopting an account opening process with a strong focus on simplicity and speed of execution for their customers and members. #narmi #accountopening #digitalfirst #customerexperience #memberexperience #oneplatform https://lnkd.in/exzyP8h6

"Banks and credit unions will need to think about the long-term value of younger customers and align banking practices with their needs and preferences. Although younger clients likely have less available assets for deposits or investing...think about the lifetime value of customers, instead of focusing on the short-term." https://bit.ly/3IkzMEa #digitalbanking #banking #creditunions

There are only two things you really need to know to answer the question "why should a community FI implement digital wealth management" 1. The average age of starting to invest is now 19 2. The average account at Robinhood has $4k in it If your #creditunion or #communitybank is not offering a compelling bundle of banking and investing (and financial literacy content ideally) then you do not have a value proposition that is relevant for GenZ and beyond and you are giving up a whole generation to Fintech competitors. You really should call us

When is the last time you went into a physical bank? Our recent research with Apiture shows nearly half of Americans can't remember the last time they did so - and half of all Americans say it would make no difference to them if their bank closed all of their branches tomorrow. Learn more about the #digital #banking practices to win #GenZ and #Millennials in the report: https://lnkd.in/gi3ZKMN6

Attracting (and keeping) these customers is one of the main goals for many of our customers - understanding your current market, market share and the market perception of your institution is the first step. At Apiture, we help our clients grow, both by bringing on new customers and increasing wallet share within their existing customer base. Analytics, marketing and digital customer service are some of the strategies that we focus on with our banks. Allow us to do a Market Audit with your team to understand where you can tap into growth.