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Millennials are digital banking savvy—but they want more from banks

Accenture

Just how digital are Millennials? Retail banks are asking this question to tailor banking customer experiences to a digital savvy generation with growing earning power. While Millennials are digital banking devotees, banks should not assume that’s all they’re about.

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The growing interest in digital banks

Insights on Business

There are interesting characteristics both in the new entrants and in the more established digital banks. Some of the most important elements mentioned by analysts and professionals can be divided into four models: Digital bank brands: Many established, full-service banks find it difficult to appeal to millennials.

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Future of Customer Experience in Digital Banking

Banking 2020

Digital banks are no longer in the ‘money’ business but rather, in the ‘value’ business. This value is not just providing a functional benefit but also a holistic experience, (i.e. what, when and how’ of the benefit), that customer values in the experience-based economy.

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New Study: Static Web Content Bad For Account Holder Engagement

PYMNTS

There’s a reason that bank apps and websites ask, “was this information helpful?”. That simply won’t fly in the digital-first decade. Findings from PYMNTS Retail Banking Services’ Paradigm Shift speak volumes about the shifts happening in customer preference, and how FIs can capitalize on new information formats.

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NEW DATA: Relevance Test: Majority Of Consumers Find Bank Web Content Lacking

PYMNTS

Restrictions on in-branch interaction are now causing financial institutions (FIs) to better engage with consumers and offer personalized banking experiences with mobile apps, online chat and contextual video content.

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Are you giving millennials what they want?

NCR

All banks are aware of the importance of catering to the needs of the millennial generation. This tech-savvy cohort is set to dictate the direction the banking industry will take over the coming years and decades. It requires banks to develop a strong understanding of what motivates and matters to their customers.

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Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti

FICO

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models.