YouthSight eBook - Banking on the next generation
Gen Z's attitudes to money and how you should react
Gen Z's attitudes to money and how you should react
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Making m<strong>on</strong>ey management easy<br />
More and more apps are emerging from <strong>the</strong> fintech industry designed to<br />
seamlessly integrate <strong>the</strong>ir financial expertise into <strong>the</strong> lives of young<br />
people. So, what are <strong>the</strong> functi<strong>on</strong>s of <strong>the</strong>se apps and how do <strong>the</strong>y help?<br />
AI Bots<br />
AI Bots are helping young people to save by setting saving targets, putting m<strong>on</strong>ey aside<br />
automatically, and even chasing up friends that owe m<strong>on</strong>ey. They are making financial<br />
management easily accessible to Gen Z, seamlessly fitting into <strong>the</strong>ir everyday lives via<br />
<strong>the</strong>ir smartph<strong>on</strong>es. Apps like Cleo can let you know whe<strong>the</strong>r you can afford that<br />
takeaway t<strong>on</strong>ight.<br />
Young people are changing <strong>the</strong><br />
way we invest. Most of our<br />
customers are under 40 years<br />
old and <strong>the</strong>y’ve been telling us<br />
<strong>the</strong>y want a socially resp<strong>on</strong>sible<br />
investment opti<strong>on</strong> for some<br />
time.<br />
Ben Stanway, co-founder of<br />
M<strong>on</strong>eybox<br />
Investing<br />
Gen Z can be intimidated by <strong>the</strong> idea of<br />
investing. By rounding up your everyday<br />
purchases to <strong>the</strong> nearest £ and investing <strong>the</strong><br />
difference, apps such as M<strong>on</strong>eybox and Acorns<br />
are making investment effortless – and ethical.
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