The largest generation in America is also the one financial institutions seem to have the hardest time figuring out. Millennials (Americans born between 1982 and 2000) characteristically value loyalty, but study after study shows they are not loyal to financial institutions — yet. New research by Digital Scientists indicates Millennials could develop committed relationships with their financial institutions, if they start
doing a better job of serving and communicating with them.
To explore the challenges financial institutions face in successfully establishing long term, profitable relationships with Millennials, Digital Scientists, on behalf of Deluxe, conducted in-depth, online interviews with 1,013 consumers, ranging in age from 18 to 54. Conducted in December 2014, the survey focused on consumers who held checking accounts with a bank or credit union and participated in household finances.