The Future of Millennial Banking

The changing of the guard is upon us. Millennials now make up over 33% of the American workforce, and that number is only increasing. Currently, the financial stability of these individuals is terrible, with almost 33% of them not having a single dollar in savings. As the wealth transfer to this new generation is taking place, financial institutions need to begin offering the advanced tools that millennials are expecting to manage their financial situation. This is much easier said than done, so in order to aid in determining what these tools are, we are going to look at what the future of millennial banking looks like and how financial institutions can be prepared for it.

Millennials are four times as likely to use a personal finance tool from their primary financial institution as from any other source

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