{"id":2141,"date":"2015-11-09T10:12:34","date_gmt":"2015-11-09T10:12:34","guid":{"rendered":"https:\/\/genhq.com\/?p=2141"},"modified":"2022-07-23T09:56:25","modified_gmt":"2022-07-23T09:56:25","slug":"igens-banking-preferences-get-your-debit-cards-ready","status":"publish","type":"post","link":"https:\/\/genhq.com\/igens-banking-preferences-get-your-debit-cards-ready\/","title":{"rendered":"iGen\u2019s Banking Preferences: Get Your Debit Cards Ready"},"content":{"rendered":"<h4>iGen, <span style=\"text-decoration: underline;\"><a href=\"\/igen-gen-z-generation-z-centennials-info\/\" rel=\"noopener\">also known as Generation Z<\/a><\/span>, may be young, but that doesn\u2019t make them any less <span style=\"text-decoration: underline;\"><a href=\"\/top-5-hits-misses-when-targeting-millennials\/\" rel=\"noopener\">opinionated than their Millennial predecessors<\/a><\/span>. However, iGen\u2019s preferences for everything from the clothes they wear to what they\u2019re looking for in a job are already proving to be vastly different than those of Millennials. And iGen\u2019s money preferences go deeper than merely <em>what<\/em> they buy\u2014they already have specific inclinations about <em>how<\/em> they bank.<\/h4>\n<p>&nbsp;<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-2142\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2015\/11\/iGen-Banking-Preferences.jpg\" alt=\"iGen Banking Preferences\" width=\"870\" height=\"653\" srcset=\"https:\/\/genhq.com\/wp-content\/uploads\/2015\/11\/iGen-Banking-Preferences.jpg 870w, https:\/\/genhq.com\/wp-content\/uploads\/2015\/11\/iGen-Banking-Preferences-300x225.jpg 300w, https:\/\/genhq.com\/wp-content\/uploads\/2015\/11\/iGen-Banking-Preferences-768x576.jpg 768w\" sizes=\"(max-width: 870px) 100vw, 870px\" \/><\/p>\n<p>A recent article from <span style=\"text-decoration: underline;\"><a href=\"http:\/\/thefinancialbrand.com\/54828\/generation-z-banking\/\" target=\"_blank\" rel=\"noopener\">the Financial Brand<\/a><\/span> reported new findings from the 2015 TD Bank Checking Experience Index, which showed that iGen might soon make the \u201cbank\u201d in the most traditional sense a foreign concept. Even using a bank\u2019s website to pay bills and check accounts online is outdated to them; they much prefer using mobile banking through an app on their smartphone.<\/p>\n<p>While the idea of banking from a smartphone might make older generations break out in hives, it\u2019s a no-brainer to people in the iGen generation, who essentially <span style=\"text-decoration: underline;\"><a href=\"\/secrets-of-the-social-media-generation\/\" rel=\"noopener\">live their entire lives through their handheld screens<\/a><\/span>. TD Bank\u2019s research found that 41% of iGen (aka Gen Z) consider their bank\u2019s mobile app as \u201cessential,\u201d whereas only 22% of other respondents in the survey feel the same way.<\/p>\n<p>Wary of debt, this new generation may also be snubbing their noses at credit cards. According to the research, nearly 75% of these budding financial consumers describe their <em>debit<\/em> card as \u201cessential,\u201d compared to 56% of Americans overall.<\/p>\n<p>\u201cFinancial institutions can expect Gen Z\u2019s preferences to be similar to those of Millennials,\u201d says Nikki Waters, VP of Consumer Marketing at Fiserv. \u201cBut Gen Z\u2019s tolerance for financial institutions that don\u2019t grasp their need for fast, easy, intuitive and personally relevant communications will be very low.\u201d<\/p>\n<p>So where does that leave banks and credit unions? If TD Bank\u2019s findings are any indication of how people are thinking about where to keep and manage their money, banks and credit unions might be in trouble if they don\u2019t start catering to iGen\u2019s preferences. This doesn\u2019t mean that extreme changes need to happen immediately or that complete business models need to be overhauled. But the banks and credit unions that start introducing tech-friendly advancements now will likely be the ones to win in the long run.<\/p>\n<p><strong><em>What are your banking preferences? How do they compare to iGen\u2019s? Tweet us at @JasonDorsey and @WhattheGen to join the conversation. And don\u2019t forget to include your #generation!<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>iGen, also known as Generation Z, may be young, but that doesn\u2019t make them any less opinionated than their Millennial predecessors. However, iGen\u2019s preferences for everything from the clothes they wear to what they\u2019re looking for in a job are already proving to be vastly different than those of Millennials. And iGen\u2019s money preferences go [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12,16,22,21,27],"tags":[],"class_list":["post-2141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-generations","category-igen-and-gen-z","category-research-findings","category-selling-and-marketing","category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>iGen\u2019s Banking Preferences: Get Your Debit Cards Ready - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"Funded by little more than allowance money and hourly wages from after-school jobs, iGen (aka Gen Z) is already armed with specific attitudes about banking.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genhq.com\/igens-banking-preferences-get-your-debit-cards-ready\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"iGen\u2019s Banking Preferences: Get Your Debit Cards Ready - 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