New research: Gen Z is ready to bank with non-traditional firms
- Research shows that Gen Z, which has grown up on Netflix and Amazon, wants more from its financial service providers.
- A Tearsheet report, in collaboration with Marqeta, examines the opportunity for brands to move in to service younger customers with financial services.
Almost half of younger users today don't have a bank account with a traditional bank. That’s a big opportunity for brands to step in and service Gen Z.
For the most part, the incumbent banking industry hasn’t figured out how to really talk to this generation. That leaves a massive, $300-billion-in-spending-power opportunity for brands to service Gen Z. It’s very likely that some of the winners of Gen Z’s financial loyalty will not be traditional financial institutions, but brands that decide to embed financial services into their existing offerings.
Embedded finance offers brands an opportunity to differentiate themselves, more deeply engage customers, solve their constituents’ problems at the point of pain, and increase revenues.
In a new whitepaper, Trust shift: Gen Z is ready to bank with non-traditional firms, Tearsheet teamed up with Marqeta to deeply explore the opportunity to engage Gen Z with financial services.
Download the whitepaper to learn more about:
- What Gen Z really is looking for from financial service providers
- How traditional banks and payments firms are missing the mark with today's consumers
- 4 different opportunities to service Gen Z with BaaS
- How brands have an opportunity to win the hearts and minds of younger generations
Click here to download the whitepaper