Encouraging millennials to use` digital revolving credit solutions

Mobile Payments Today

Millennials have grown up with technology and generally avoid traditional credit cards in favor of digital payments. Tim Harris, CEO of FuturePay outlines how to interest this group in digital revolving credit solutions

Millennial Marketshare: How Financial Institutions Can Grab an Unfair Advantage

Mobile Payments Today

Born between 1981 and 1996 and numbering over 75 million, millennials have become the largest demographic group in the US, according to the Brookings Institution

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Millennials: STOP EATING AVOCADOS!!!

Chris Skinner

I’ve spotted a couple of interesting discussions about millennials and money in the last week, both of which say that the views on them are wrong. Stereotyped as avocado-crunching, cappuccino drinking, needies, the general media view is that this is a generation spoilt by helicopter parents to grow up to … The post Millennials: STOP EATING AVOCADOS!!!

Franklin Templeton Teams Up With Razer To Woo Millennial Investors

PYMNTS

trillion global investment giant founded in the 1940s and named after Benjamin Franklin is teaming up with upstart Razer Fintech to create a digital wealth management platform targeted at millennials and young investors.

Who needs millennials?

Chris Skinner

I have had many, many conversations about reaching the millennial customer. We need to be attractive to millennials? Millennials think differently, how do we reach them? Millennials are rejecting banks, is that right? The conversation seems to be one amongst older generational people who haven’t realised that the millennials is now their CFO, CEO, CDO and, in some cases, CEO. The challenge today is to think like a Millennial.

Millennials Are Ready for the Bank of Amazon

Bank Innovation

11 survey from Accenture, millennial participants would consider parking their money with nontraditional institutions, and they picked winners. Commerce E-Commerce Mobile Online Payments Retail Startups Technology Accenture amazon Google Google Wallet millennials Mobile banking online bankingAmazon wins, once again, at a game it didn’t even know it was playing. According to a Jan.

Open Banking Is A Must for Millennials, Bankers Claim

Bank Innovation

It’s crucial for banks to start participating in the finance revolution, especially as millennials are on the hunt for open banking—at least, according to bankers. DataBank Databank Innovations Online Technology APIs open banking Financial Regulation millennial customers psd2According to a survey of 300 banking officials, conducted by Marketforce and Earnix, developing open APIs is becoming more and more crucial to retaining customers. In fact, 80% of the […].

Turns Out, Millennials Are Not That Unique

Bank Innovation

Millennials are in the driver’s seat of innovation. But a new study from FIS, released this week, suggests that millennials are not as unique as many think — at least in terms of financial service preferences. DataBank Databank Mobile banking digital banking FIS millennialsIf you’re in fintech, you’ve probably heard that statement more than once.

Deep Dive: Keeping Up With Bridge Millennials’ Retail Impact

PYMNTS

Bridge millennials’ rise is changing the retail ecosystem ahead of the 2019 holiday season, but their impacts will continue to be felt in the year ahead. Bridge millennials are consumers aged 30 to 40 whose shopping and financial preferences straddle Gen X and millennial demographics.

By 2030 Millennials Will Have $20 Trillion In Wealth. Here’s What They Want In Robo-Advisors

Bank Innovation

Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Currently, millennials’ combined financial assets come up to $4.5

Millennials Dump Tesla Stock

PYMNTS

Millennials have been unloading Tesla shares a week before the company revealed disappointing Q1 delivery numbers. Within the past week, a net 5,600 accounts on trading app Robinhood , which is popular with millennials, left their Tesla position, with the number of accounts holding the automaker’s shares falling by more than 4 percent. Investments Amazon automotive Branding delivery ecommerce Millennials News q1 Shares stocks Tesla vehicle sales What's Hot

Reaching Millennial Travelers With Payments Technology

PYMNTS

Some millennials, in one case, would abandon travel booking processes if their preferred payment method was not offered. millennials who pay for hotels with debit cards or cash. 50%: Projected share of millennial spend in the personal luxury market by 2025.

Morgan Stanley’s Robo-Advisor for Millennials Goes Live

Bank Innovation

Morgan Stanley launched a robo-advisor to target fintech’s darling demography – millennials. Exclusive Mobile Online Uncategorized millennial Morgan Stanley robo-advisorThe robo-advisor, which is called Morgan Stanley Access Investing, was unveiled yesterday. The online service has a 0.35% advisory and users are required to have a minimum investment of $5,000. Morgan Stanley’s robo-advisor users can invest in mutual funds and ETFs. This is […].

The Millennial Real Estate Boom Beckons?

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Demand will be robust, the report said, and with low rates, rising rents and “the ever-expending Millennial population” all contributing to that demand. The data show that millennials’ share of mortgage originations will pass 50 percent this spring — outnumbering boomers and Gen X’ers.

Deep Dive: Travel, Hospitality Get A Millennial Makeover

PYMNTS

Millennials have long been sought-after travel and hospitality customers, partly because they are perfectly placed to seek such experiences. This unique status creates both opportunities and challenges for firms in the space, as millennials search for the experiences they crave.

Serving The Millennial Consumer With Convenient Offerings

PYMNTS

Reynolds Group Holdings is actively working to court the millennial market , which has a particularly strong focus on convenience. For this reason, the firm has focused keenly on recipe integration in recent years — and, as it turns out, millennials are excellent recipe followers.

Millennials Use Mobile Banking More (But Trust It Less)

Bank Innovation

While millennials remain the top adopters of mobile banking, the generation is also more likely to have problems with their financial apps, a new survey released by online mobile payment and identity verification company Jumio found. While baby boomers have reached the same level of adoption as millennials at least when it comes to online.Read More. DataBank Mobile Premium Security Jumio millennial banking Mobile banking

The Coming Millennial FinTech Crisis

PYMNTS

While they enjoy many FinTech innovations, most millennials don’t have a snowball’s chance of earning more than their parents — ever. It’s one thing for the millennial offspring of the billionaire hedge-fund scions to fall short of making a billion because they only manage to pull down $760 million a year. But that downward slide took a nosedive for the kids born in the 1980s — or what we call today the millennial generation. It’s a fact.

Millennials Are Facing Their Second ‘Once-in-a-Lifetime’ Financial Crash

PYMNTS

The data on millennials’ lifetime earnings potential were already fairly grim long before the word “coronavirus” became part of everyone’s daily conversations – and before the U.S. On the other hand, a millennial born between 1981 and 1996 has only a 50-50 chance.

Survey Finds Financial Stress High Among Millennials, Gen Z

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While younger people in the millennial and Gen Z age groups report high levels of stress in a recent survey, the COVID-19 pandemic is not necessarily the main reason for that, CNBC reports. ” The results come from the 2020 Deloitte Millennial Survey , which takes stock of how young people view the world, business and other things around them. Economy 2020 Deloitte Millennial Survey financial stress Gen Z Millennials News pandemic What's Hot

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Millennials: are you cool or history?

Chris Skinner

Another musing whilst on holiday is that it is difficult to get into the head of a twenty- or thirty- something millennial when you’re a Gen X or Baby Boomer. This … The post Millennials: are you cool or history? In my head, I still think I’m 20 but, when I look in the mirror, I know I’m not. appeared first on Chris Skinner's blog. Future Grid History Humour Opinion

The war for talent: Managing millennials

Bank Innovation

Anyone who’s spent a frustrating afternoon explaining Facebook privacy settings to their parents can tell you that millennials are naturally good at technology. Millennials have been raised on the Internet, touch screens and the cloud, so naturally they have a more intuitive understanding of technology and can pick up systems and applications that are built […].

Millennial Women Are (Still) Held Back from Investing by Student Debt, SoFi Says

Bank Innovation

Millennial women have the funds available to start investing, but are held back by a fear of beginning the process, as well as the typical reason most millennials aren’t investing: debt, a study released yesterday by loan provider SoFi found. While 53% of millennial women have emergency money set aside — about three- to six-plus […]. DataBank Lending Premium Startups Investing lending millennial women millennials savings SoFi student debt

Debit Beats Credit With Bridge Millennials

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Older “ bridge millennials ” led the way when it comes to living within one’s means by showing a clear preference for debit products. Payment Methods Bridge Millennials credit debit Discover Editors' Picks mobile wallet News payments PULSEWould you pay interest on a cup of coffee?

Millennial-Focused Digital Bank Empower Finance Raises $20M

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San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. Investments Digital Banking Empower Finance funding Investment Millennials neobank News series a Venture Capital What's Hot

Accounts Of Millennial Sobriety May Be Oversold

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Have millennials started starving a segment of commerce in a socially positive way? Added to the list of things millennials are killing — along with homeownership, the institution of marriage and diamond jewelry — is apparently alcohol. Many of the soberish millennials interview for the article, for example, noted that they had substituted the use of cannabis for the use of alcohol. Folks in the millennial generation have maybe a better sense of balance.

Millennials Make Big Push For B2B Personalization

PYMNTS

It said that 70 percent or more of millennials are involved in B2B buying decisions. “As B2B Payments B2B Corevist ecommerce Editors' Picks Millennials News

Millennials Prefer Venmo to Cash, Duh

Bank Innovation

A new report shows that millennials use Venmo more than they use ATMs as if there was any doubt that to this audience an app like Venmo is a prime method of payment.

It’s Time to Stop Ignoring the Millennial HomeBuyer, Better Mortgage Growth Suggests

Bank Innovation

Most of this funding (75%, according to figures, it released last week) went to millennial homebuyers, the majority of which were also first-time […]. Exclusive Lending Online Better Mortgage digital lending millennial finance millennial investing mortgages online lending real estate lending

Robo-Advising on the Rise Among Full-Service Millennials

Bank Innovation

One fourth of full-service millennial investors have either tried, or are actively using, a robo-advisory platform, according to a new study by J.D. The study suggests that millennials have now accumulated enough wealth to be in the “sweet spot” for engaging a wealth manager. Power millennials robo robo advisorsPower. Digital advisory is also popular among Xennials–those born between 1978 […]. DataBank Databank Technology Wealth Management J.D.

The Retail Complexities Of Wooing Bridge Millennials

PYMNTS

The stated goal, according to new CEO Jim Brett, is for the brand to build back its audience, particularly among millennial shoppers. We believe the bridge millennial is the bellwether for how connected commerce will evolve over the next five to 10 years,” Webster wrote. “We

Millennial Investors Are Not Over the Financial Crisis

Bank Innovation

Millennial investor habits were most strongly affected, the survey of more than 15,000 global investors […]. DataBank Databank Innovations Investing millennial investingThink the financial world has finally recovered from the 2008 crisis? Think again. Most investors still count themselves as “influenced” or “strongly influenced” by the events of the financial crisis, according to the Legg Mason 2017 Investment survey released recently.

Who Said Millennials Don’t Save for Retirement?

Bank Innovation

61% of investors in the millennial generation are saving for retirement, buying a home, or for other long-term financial goals, according to a survey conducted by digital investment company Stash. This somewhat goes against the popular perception that savers in the millennial generation are both rare and only interested in short-term rewards.

How Pilot Is Innovating Corporate Taxes For Millennial-Run Businesses

PYMNTS

Younger consumers are often unenthused about the lengthy wait times attached to their personal or professional tax refunds, and as millennials increasingly operate small- to medium-sized businesses (SMBs) with small teams or work as one-person companies, the status quo tends to be even less forgiving, as such individuals may rely on these funds for proper cash flows. Recent research finds that 67 percent of millennial business owners operate independent companies rather than franchises.

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Wells Fargo Shuts Millennial-Friendly App ‘Greenhouse’ To New Clients

PYMNTS

Millennial-Banking Apps Are Struggling. Chase’s decision to shut down Finn and Wells Fargo’s move to stop adding users for Greenhouse raises the question as to whether there’s really demand from millennials for apps that are separate from a bank’s main offerings. If there isn’t, look for more banks to discontinue their millennial-focused apps. Digital Banking Finn Greenhouse jpmorgan Millennials Mobile Applications mobile-first banking News wells fargo