Tag Archives: Millennials

the Millennial Mind

Millennials rising: With the power to be disruptive (in a good way)

This interesting infographic on the (mysterious?) Millennial Mind highlights how Millennials have a devotion to Authenticity, Community and Giving & comes by way of PSCU : The Millennial Mind

PSCU initiated a Make your Money Matter Movement recently to help leverage what they know about the Millennial generation to attract, engage & move millennials to Credit Unions.  Based on what we know about Credit Unions and what we are learning about Millennials, that makes good sense. It seems to be paying off based on the results that PSCU has posted. It’s an interesting and insightful read.

There’s no question: Millennials (born between 1976 & 1994) think differently than older generations and they definitely have the buying power to be disruptive especially with their fresher attitudes towards living life in a friendlier manner and their preference for using technology to manage that life. PSCU summarizes it as “Millennials are drawn to business models in which extending the life and value of good s is a core tenet”

We like the way millennials think .

We can help financial service providers attract millennials with a technology offering to help them manage their busy financial lives going forward.

 

 

 

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