BI Intelligence
- This is a preview of the Banking and Payments for Gen Z research report from Business Insider Intelligence.
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Generation Z, defined as customers born between 1996 and 2010, hold up to $143 billion in spending power, but haven't yet developed brand loyalties that dictate where they store and spend that money.
For banking and payments providers, attracting these customers while they're young could lead to lucrative relationships throughout their lives, with value increasing as they age, earn more money, and expand the number of financial products they engage with.
See the rest of the story at Business Insider
See Also:
- Chase's Q1 income took a big hit as it set aside profits to prepare for coronavirus-related losses
- PayPal, Intuit, and Square Capital can now facilitate government loans
- Chase is strengthening its mortgage borrowing standards to mitigate risk as it takes on new customers
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