In this blog, I will continue with my research on the target audience( looking more specifically into the needs of my target audience in the banking sector), in order to better understand what are the current problem of today's banking systems and how we can improve on that. (What problems we are trying to solve) The main focus/outcome of this blog will be deciding the 5 core qualities of my bank brand based on my research so far.
In the last blog, we have looked into and summarised the 4 common traits for the younger generation;
Now I wanted to look more specifically into what my target age group would want from their banks. To do so I read a few online articles, and I will link the ones I found most useful down below;
What Young Millennials Want From Banks - WSJ
Four Ways Banks Can Cater to Generational Trends | Bank Director
Centennials, the generation that knows what it wants from a bank
5 Things Banks Need to Know About Gen Z – SLD
After reading the articles, I have got a brief overview of what the current young generation would expect from their banks. I was surprised at how my previous research findings link closely with the articles I read.
Below, I will quickly summarise my findings;
While there is no doubt that digital is the future, there are few existing banks that offer a seemly good digital experience. The way people uses money is changing, with the younger generation keeping less cash on hand and opting for digital payment; investing in cryptocurrencies and other savings and investment apps. The young generation wants convenience and simplicity. Seamless money transactions through mobile and online are important as they allow the user to take action whenever, wherever.