The Millennial Migration

. A needs-based approach will win the hearts of Millennials
Millennials struggle to make decisions and plan for these Life Moments and the top
challenges they face in making these decisions are Choices, Affordability, and Experience.
Consider Amy’s graduation trip planning process. As she searches through the vast price
comparison sites and customer reviews available, she cannot help but feel that she may
make the wrong choice.
Top Decision-Making Challenges faced by Millennials
during Key Life Moments are related to Choices,
Affordability and Lack of Experience
Banks can take this opportunity to provide contextual banking solutions by integrating
their products and services into Millennials’ decision-making process during key Life
Moments such as the one Amy is facing. In this instance, this data-driven banking
approach could have helped Amy with the heavy-lifting when planning her vacation; by
providing recommendations based on her financial position, made relevant with data from
her previous trips and like-minded customer reviews.
Planning a Vacation
47% said “I have too many
choices” and 35% said “I’m
not sure I can afford this”
With the customer data they already have, banks are in a prime
position to provide Millennials clarity when making important
financial decisions.
Finding a New Job
36% said “I don’t have
experience with this” and
35% said “I don’t know how
to start”
Daily Shopping
& Budgeting
44% said “I have too many
choices” and 35% said “I’m
not sure I can afford this”
Qn: Select the primary challenges associated with the selected life moment. You can select as many
as applicable.
13 The Millennial Migration: How Banks Can Remain Relevant In Their Decision-Making Eco-System