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What is the FinTech Community Doing For Millennials?

The payments and banking world needs to speak a different language for the mobile generation of millennials. This is the generation that expects instant gratification: if you press a button that says transfer money, having to wait three days for it to happen is three days too late. The 80 million members of the millennial generation represent 25% of the US population and more than $200 billion in annual buying power (source: US advertising firm Barkley). Millennials are typically defined as those born between 1980 and 2000. According to a recent study, this group has influence over $600 billion of indirect spending, primarily because teens and young adults influence the purchasing habits of their parents (source: US Chamber of Commerce Foundation). Clearly there is a need for better understanding and finding new ways to target this important demographic.

This is the generation that has a higher bar: you just can’t send someone who lives in an apartment a coupon for a lawn-mower; I expect McDonalds to send me a digital mango lassi coupon on my birthday because I signed up for their loyalty program. The mobile generation expects true innovation, not appeasement. It expects a better ability to multitask, to save time & money, to live life without unnecessary overhead, and to pay attention to experiences like eati ...

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