07 The future is Gen Z
Tech-savvy Gen Z is coming of age and
legacy banks should have this digitally
native cohort in their sights as they are
already using neo banks to manage their
money for the agility and ease-of-use
they offer.
From Apple Pay and other digital wallets,
Gen Z has embraced mobile payments
and digital banking more than any other
generation – in fact, they already
outnumber millennials globally.
Legacy banks leveraging the power of
partnerships with fintechs now have
a massive opportunity to offer this
younger generation just what they
expect — hyper-personalized, seamless
experiences and tailored products and
services tapping into the Gen Z target
will enable banks to gain both a fresh
group to upsell to, and a plentiful new
revenue stream.
7 KEY TRENDS THAT WILL SHAPE DIGITAL AND OPEN BANKING IN 2023 P.10
What new
revenue streams
are banks
planning to
introduce?
