What Generation Z Wants in a Bank


The Gen Zers are coming! The Gen Zers are coming!

Generation Z, born roughly between 1997 and 2012, has arrived. At 9 to 24 years old, some of them are just now entering the workforce. As nearly 68 million of these people start earning paychecks and “adulting,” they’re also having a significant influence on the financial sector.

To properly understand Generation Z, you must look at what they value most in life and the unique environment in which they’ve developed. Growing up in the internet age, they are digital natives who’ve now experienced the Great Recession and the world’s first major pandemic since 1918. Logically, their work-life balance and personal well-being now come before anything else. How much money they make — or save for that matter — is important but does not surpass their passion for philanthropy, social justice, diversity and overall human equality.

There is no question: Gen Z will make money. A lot of money. In fact, some studies suggest their cumulative incomes will reach an estimated $33 trillion by 2030. Because of this great purchasing power, they will soon be the largest consumer segment, significantly affecting the broader economy and the financial sector.

And just what does this mean for banking? Everything. Banks must establish themselves as a vital part of the local community. They must also provide both the latest in financial tech and operate local branches to offer assistance, guidance and a base for philanthropic efforts.

Features like mobile and online banking, peer-to-peer payments like Zelle®, Mobile Wallet and remote deposit capabilities must be optimized and streamlined to keep Gen Z happy.

Hybrid technology options, like our Pinny Live Teller / ATM, are a perfect example of how we’re taking the ease and convenience of the traditional ATM and combining it with the personal, professional service of a live teller.

Generation Z likes its bank branches, too. Many turn to branches and call centers when opening a new checking account, resolving a complicated issue, or addressing potential fraud due to cybercrime. In addition, and despite the plethora of online resources, both Gen Zers and Millennials trust bank associates for financial management advice and guidance. They value personal connections, the face-to-face experience and trust brought about by discussing their finances and investments with actual human beings.

In the end, financial brands, like Pinnacle Bank, are recognizing the true power of Gen Z and are effectively seeking them out as partners when growing their physical and digital impact. For this exciting group, authenticity is king, and Pinnacle Bank is “keeping it real” with the products, services and manner in which we serve.

We’re Here for All Generations.

For more on how we’re reaching our communities, feel free to email us at or call us at 877.759.7939.


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