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Traditional banks have lost around 20% of their millennial clients in 2019. Covid-19 has accelerated the process for banks that can’t keep up with the digital transformation.

19 august 2020

Traditional banks have lost around 20% of their millennial clients in 2019, highlighting the disconnect between millennials and traditional banks, according to a new research report by Global Market Insights, Inc.

Millennials prefer to partner with banks that can relate to their needs and act as trusted advisors that can provide a meaningful, contextual, and personal engagement.


Millennial consumers are also prepared to work outside a traditional financial setup when they find that the experiences working with such companies are better.

Millennials are embracing contactless payments and care less about visiting brick & mortar branches or ATMs, driving the market demand for contactless POS terminals.

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?