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What #Banking Trend Will Have the Greatest Impact on Your Bank?

Jeff For Banks

This was the question posed to Bank Profitability students as part of the Oregon Bankers' Association's Executive Development Program (EDP). Consumer Demographics and Changing Customer Demands Remember all the pre-pandemic talk about millennials? Now the oldest millennial is 43 (see table by Statista).

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The Dawn Of A Cashless Global Economy?

PYMNTS

adults still prefer to use cash for purchases under $5, while 22 percent use debit cards and 11 percent use credit cards. Which age group is most likely to use a credit card for these small transactions? That would be millennials, ages 18–29, with 64 percent saying they prefer to use cards even for transactions under $5.

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Fintech Fundings: 36 Companies Raise $480 Million Week Ending March 18

Fintech Labs Insights

Alt-lender targeting millennials . HQ: Portland, Oregon. Tags: SMB, merchants, payments, acquiring, credit/debit cards. Total raised: $7.85 HQ: Los Angeles, California. Source: Crunchbase. Latest round: $5.6 million Series A. Total raised: $305.6 million (unknown mix of Debt/Equity). HQ: California. Source: Crunchbase.

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