The oldest members of Generation Z are approaching the transition from college to the workforce. With this milestone, they will expand their financial services relationships, including opening new bank accounts and credit cards. The milestone also opens a critical period for banks targeting a new generation of customers. At an estimated 60 million strong, this audience is young but large, at the dawn of their careers, and represent an immense opportunity for financial services as they build loyalty and wealth over time.
Companies will succeed with this segment only if they offer a customer experience that feels “natural” to them. How do we know what feels natural? Consider the criteria from famed author Douglas Adams:
- Anything that is in the world when you’re born is normal and ordinary and just a natural part of the way the world works.
- Anything that’s invented between when you’re 15 and 35 is new, exciting, and revolutionary, and you can probably get a career in it.
- Anything invented after you’re 35 is against the natural order of things.