Mobile devices have become the predominant way for consumers to interact with financial institutions (FIs)— for everything from remote deposit capture to photo bill-pay to mobile payments. Mercator Advisory Group expects that the mobile operating system, with all of its unique advantages and constraints, will soon become the primary development environment for all consumer-facing and employee-facing bank capabilities.
Millennials now represent the largest generation and are moving into their peak earning and spending years. Financial institutions realize how important it is to understand and connect with Millennials in order to grow their business, but it isn’t always clear how to do so. This infographic provides insights into Millennials financial habits and highlights opportunities for financial institutions to better serve them now and in the future.