The Millennial Migration
The-Millennial-Migration-report
The-Millennial-Migration-report
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. Can banks capitalize on <strong>Millennial</strong>s’ trust?<br />
<strong>Millennial</strong>s also trust their banks on matters regarding personal finances if such advice<br />
were provided. An overwhelming 88% indicated so, above family / friends and personal<br />
financial advisors.<br />
Banks are still the most trusted source for advice<br />
on personal finances<br />
<strong>The</strong>se observations reflect the potential for banks to evolve into a bigger player in<br />
<strong>Millennial</strong>s’ lives. <strong>The</strong>y can capitalize on the high level of trust that <strong>Millennial</strong>s currently<br />
have in them for providing personal financial advice, and design customized products and<br />
services that would enable <strong>Millennial</strong>s to make their decisions easily and seamlessly<br />
without leaving their digital eco-system.<br />
Banks<br />
88%<br />
With banks maintaining a high level of trust in holding funds<br />
and managing personal finances, this trust can be built upon<br />
through the design of products and services that integrate<br />
seamlessly with <strong>Millennial</strong>s’ lives.<br />
Other Sources:<br />
Family /<br />
Friends<br />
20% 40% 60% 80%<br />
87%<br />
Personal<br />
Financial<br />
Advisors<br />
59%<br />
Online<br />
Forums 35%<br />
Online<br />
Financial<br />
Advisors<br />
31%<br />
Qn: Thinking about seeking advice on your personal finances, please indicate 3 of the<br />
following sources that you would trust the most?<br />
5 <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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