Millennials would rather go to the dentist than listen to what banks are saying

 

It’s true according to a 3 year study by Scratch  (an in-house media unit of Viacom) on industry disruption called the  “the millennial disruption index” (MDI) . The study surveyed more than 10,000 Millennials (those born between 1981-2000) about 73 companies spanning 15 industries in order to identify the industries most likely to be transformed by millennials…and the answer they found was banking.

“I don’t see the difference between my bank and all the others”

Specifically:

  • 53% don’t think their bank offers anything different from other banks
  • 1 in 3 are open to switching banks in the next 90 days
  • 33% believe they won’t need a bank at all in the future
  • Nearly half are counting on tech start-ups to overhaul banking
  • 73% would be more excited about a new offering from Google, Amazon, Apple, Paypal or Square than from their own nationwide bank

And yes,  71% would rather go to the dentist than listen to what their banks are saying

The surveyed millennials believe innovation will come from outside the industry

Millennial Disruption Index by Scratch

 

 

 

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