The Millennial Migration

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2. Influencers Participating in the Report DAVID M. BREAR Co-Founder and CEO 11:FS ROB FINDLAY Founder Next Bank David is a Banking & FinTech strategist, speaker, scholar, writer and VC. One of the most influential people in Banking & FinTech globally, he established 11:FS to become a subject matter expertise led source of benchmarking, research, advice and investment, and recently launched an investment fund with Chris Skinner and Life.SREDA. His experience with top financial services global brands gives David a truly unique vantage point on the FinTech and Banking industry. Rob is the founder of Next Bank and leads the group wide UX practice at DBS Bank in Singapore. Prior to this, he was Director of Innovation for BlackBerry Asia Pacific. Rob began his career in the creative industry, running his own brand and design company. Transitioning to financial services, Rob led the customer experience for National Australia Bank’s direct banking channels, and led a culture change programme at OCBC. @davidbrear https://www.linkedin.com/in/davidbrear @robfindlay https://www.linkedin.com/in/robfindlay AMIT GOEL Co-Founder Let’s Talk Payments (LTP) SCARLETT SIEBER SVP, Global Business Development, New Digital Businesses BBVA Amit is the Co-Founder and Managing Director of Let's Talk Payments (LTP). At LTP, he provides the same level of analytical rigor that analysts put into their work combined with Content 2.0 technology to offer unparalleled satisfaction for readers in the FinTech space. Listed as one of 2015’s Top 100 Influencers and Brands in FinTech by Onalytica, Amit is currently building a FinTech Market Network called MEDICI along with the LTP team. He has a rich background in advising a wide variety of clients in FinTech, commerce and technology space. Scarlett secures partnerships and opportunities within the BBVA ecosystem, and is the US lead for BBVA's millennial initiative. She is also the face of BBVA when it comes to speaking roles, mentorship in national accelerators, and judging startup competitions. A regular contributor to Huffington Post, Forbes, and WeWork, Scarlett is also a NYC Fellow of Startup Leadership Program and has been named amongst the top 50 most influential people in FinTech by Onalytica in 2015. @amitTwitr https://www.linkedin.com/in/amitpayments @ScarlettSieber https://www.linkedin.com/in/scarlettsieber Disclaimer: The above influencers contributed to this report in their personal capacity. The views expressed are their own, and do not necessarily represent the views of their organizations, of Oracle, or of Wharton FinTech. 2 The Millennial Migration: How Banks Can Remain Relevant In Their Decision-Making Eco-System
3. The Many Shades of Millennials We define Millennials as four sub-sets: Young Millennials, aged 18-21; Middle Millennials, aged 22-25; Mature Millennials, aged 26-30; and Grey Millennials, aged between 31 and 45 years old. Grouping Millennials by age reveals nuances in their behaviour towards banks and how they approach financial transactions. We will look at Millennials through 3 user personas - meet siblings Amy, Brian and Nicole; home together for the first time in a year and a half. Bringing the 3 siblings together highlights important differences in their current banking attitudes and lifestyle priorities. Our findings uncover the nuances in their preferences on a number of dimensions, which differ by age and location. These are some of the key takeaways. We polled more than 4,500 respondents in 9 markets – Brazil, Canada, China, France, Germany, India, Japan, UK and the U.S. 24% Age 31 - 45 : Grey Millennials 15% Age 46+ : Non-Millennials 27% Age 26 - 30 : Mature Millennials There are important differences in the way Millennials think about and approach financial transactions, depending on whether they are Young, Middle, Mature, or Grey. 11% Age 18 - 21 : Young Millennials 23% Age 22 - 25 : Middle Millennials Meet the Millennials’ Personas Name : Amy (Young Millennial) Age : 19 Lives in : New York City Job : Student Likes : Snapchat, Venmo, Instagram Amy is a Digital Native who grew up in an App culture and documents her every move online, she is extremely reliant on her social network for key decisions which currently revolves around her graduation trip. Name : Brian (Middle Millennial) Age : 23 Lives in : Shanghai Job : Brand Manager Likes : AirBnb, payWave, Spotify Brian is a Digital Enthusiast who sports the latest technology and innovations. He spends most of his free time online, researching his next career move. Name : Nicole (Mature Millennial) Age : 28 Lives in : Paris Job : Lawyer Likes : Pinterest, Net-a-porter, Luxury goods Nicole is a Digital Convert but is much more selective about her digital eco-system and relies on trusted advice especially with planning her upcoming wedding and honeymoon. 3 The Millennial Migration: How Banks Can Remain Relevant In Their Decision-Making Eco-System
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The Millennial Migration

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