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Gen Y Banking Strategy: Evolution Proposals for Global Internship Program 2012

Explore innovative strategies to target Gen Y consumers in banking. Utilize virtual communities, video support, interactive TV, and more. Are banks meeting Gen Y needs effectively?

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Gen Y Banking Strategy: Evolution Proposals for Global Internship Program 2012

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  1. Global Internship Program 2012As One Project – Gen Y Banking Strategy August 3, 2012

  2. Gen Y Born between 1980 & 1992 • Banks have the ability to target younger consumers, but also may be vulnerable to first mover rivals • As per a survey of 1,055 U.S. consumers, 26% of Gen Y respondents indicated that they would consider moving their primary banking relationship elsewhere

  3. Do they cover Gen Y needs? ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü ü

  4. Evolution proposals • Virtual communities of interest (social media) • Virtual world sites • Video-based support • Instant messaging (live support) • Email messages • Interactive televisions • Click-to-call functionality • Brand equity from ‘parents’ banks’ • Product partnerships (Ex: Ability to pay monthly bill at local super market)

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