Podcasts

Deep Dive: Building for Gen Z, influencers, financial literacy, and a budgeting coloring book

  • In a rapidly evolving financial landscape, the emergence of Gen Z as a pivotal demographic is reshaping the priorities and strategies of financial institutions.
  • Tearsheet's editorial team explores the challenges and opportunities faced by banks in adapting to the preferences of Gen Z, alongside engagement strategies employed by neobanks, and unconventional partnerships for enhancing financial literacy
close

Email a Friend

Deep Dive: Building for Gen Z, influencers, financial literacy, and a budgeting coloring book

Tearsheet Editor-in-Chief Zack Miller hosted a LinkedIn Live session featuring two of our top reporters, Rabab Ahsan and Sara Khairi. It was a chance to go behind the scenes of our reporting and go deeper into what’s happening at the intersection of financial services, new models, rising expectations, and evolving technology.

We explored the fascinating intersection of finance, Gen Z trends, and influencer culture, discussing how unconventional strategies like budgeting coloring books are reshaping financial literacy. We’ll also dive into how some incumbent firms, like Bank of America and Capital One, are exploring unconventional methods to capture consumers’ interest in financial education as a starting point.

The big ideas

  1. Gen Z Permeating Financial Coverage: The importance of Gen Z has become a prominent theme in financial coverage due to their emergence into the workforce and engagement with financial services. Zack mentions, “Gen Z is a subject that’s permeated our coverage over the past 18 months. It’s crucial for banks to figure this out.”
  2. Challenges with Technology and Personalization: Financial institutions face significant hurdles in adapting to the preferences of Gen Z, particularly regarding technology and personalization. Rabab discusses, “most of the executives…said that, out of all the reasons why they can’t really build products for Gen Z…Technology is the biggest roadblock.”
  3. Engagement Strategies for Gen Z: Neobanks are implementing innovative engagement strategies, such as gamification and unconventional partnerships with influencers, to resonate with Gen Z. Rabab mentions, “If you look at neobanks, they’re not coming in with all of this legacy tech, they have their focus… they’re going all out with engaging Gen Z.”
  4. Partnerships for Financial Literacy: Traditional financial institutions are forging partnerships with brands and organizations to enhance financial literacy, targeting various demographics beyond Gen Z. Sara discusses Bank of America’s partnership with Tory Burch to conduct business webinars for women entrepreneurs, stating, “They’re trying to keep up with the competition… it’s a win-win situation for banks.”
  5. Adapting to Changing Roles: Financial institutions may need to adapt to changing roles, possibly moving towards an embedded finance model where they collaborate with brands and communities to deliver financial services. Zack concludes, “Maybe the future of banking in Gen Z is an embedded finance role… I do think that could be something that banks do today that could actually move the needle for them.”

Subscribe: Apple Podcasts I SoundCloud I Spotify I Google Podcasts

0 comments on “Deep Dive: Building for Gen Z, influencers, financial literacy, and a budgeting coloring book”

Podcasts

From direct lending to embedded finance: Luke Voiles on Pipe’s evolving value proposition

  • Pipe's CEO Luke Voiles joins Tearsheet editor Zack Miller on the podcast to discuss the firm's move into embedded lending with its new Capital as a Service platform.
  • From his roles at Intuit, Square, and now Pipe, Luke shares his management style, approach to building world-class products, and how he handles work-life balance.
Zachary Miller | May 21, 2024
Podcasts

How MSU Federal Credit Union uses shopping incentives to get customers to engage beyond just checking their balances

  • Michigan State University Federal Credit Union partners with Prizeout to provide cashback rewards and drive digital engagement, replacing declining interchange revenue.
  • Listen in to our podcast with MSU FCU's Chief Innovation Officer, Ben Maxim, and Prizeout CTO, Brendan Grove to talk about how FIs are finding new ways to engage their customers.
Zachary Miller | May 14, 2024
Podcasts

Card Launch 101 (Live): Your ultimate guide to building and launching a successful card

  • Launching a card today requires clear planning, focused execution, and ongoing testing to make a card program really successful.
  • Join executives from Galileo, FNBO, and DailyPay as they discuss a playbook for successful card launch based on years of hard-earned experience and expertise.
Zachary Miller | May 07, 2024
Podcasts

Inside Vanguard’s CX modernization journey with Aaron Taylor, Personal Investor CIO, and Marco De Freitas, Head of CX and Digital

  • As Vanguard became more committed to modernizing its CX, it made key investments in its team, structures, processes, skillsets, and technology stack.
  • Leaders from the personal investment side of the business join us on the podcast to discuss how one of the largest asset managers in the world is aligning design with more positive customer outcomes.
Zachary Miller | April 29, 2024
Podcasts

MoneyLion’s maniacal mission of rewiring finance with Dee Choubey

  • Five years ago, MoneyLion was competing as a neobank, driven to deliver growth on its customer numbers. Since going public, Dee Choubey's firm has evolved into a platform.
  • The MoneyLion CEO joins us on the podcast to explain why seeing the firm as a neobank isn't accurate, where growth in the business is coming from, and his view of the future of banking.
Zachary Miller | April 25, 2024
More Articles