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The Millennial Migration

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1. Seize the <strong>Millennial</strong> Moment<br />

<strong>Millennial</strong>s are the largest generation in world history, numbering 80 million 1 and<br />

commanding $1.3 trillion 2 in direct annual spending in the U.S. alone. <strong>The</strong>y now represent<br />

a mainstream banking demographic with ever-increasing financial power. Having grown up<br />

in an App society, their expectations are changing the game for almost every industry on<br />

the planet and banking is no exception.<br />

$<br />

As the largest consumer base for banks, an examination of where and how <strong>Millennial</strong>s are<br />

making their financial decisions presents immense opportunity for banks and FinTech<br />

startups (“FinTechs”), to build an eco-system of compelling digital experiences that<br />

seamlessly integrates into <strong>Millennial</strong>s’ lifestyles. That’s why we set about surveying 4,646<br />

respondents across 9 markets – Brazil, Canada, China, France, Germany, India, Japan, UK<br />

and the U.S. to get a view on how financial institutions can enable their highly digital &<br />

mobile lifestyles.<br />

This report takes a closer look at the milestones in <strong>Millennial</strong>s’ lives that matter most, what<br />

we call ‘Life Moments’, and who they are most likely to engage with around them. <strong>The</strong>se<br />

moments provide the inspiration for what we believe is a new model for lifestyle banking:<br />

One that propels banks from a transactional platform or service provider, to a loyalty and<br />

trust-invoking brand that is seamlessly integrated with the <strong>Millennial</strong>s’ lifestyle.<br />

<strong>The</strong>re is immense opportunity for banks to be a major digital<br />

player seamlessly integrated into <strong>Millennial</strong>s’ lifestyles.<br />

1 <strong>The</strong> <strong>Millennial</strong> <strong>Migration</strong>: How Banks Can Remain Relevant In <strong>The</strong>ir Decision-Making Eco-System

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