BANKING AND PAYMENTS FOR GEN Z: These digital natives are the next big opportunity — here are the winning strategies

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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. 

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See Also:

• Goldman Sachs' consumer deposits see record $20 billion growth
• Chase's mobile banking user growth decelerated in Q2 2020 despite lockdown measures
• OCC head says US banks can't use the pandemic as reasoning to ramp up branch closures

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