Banking is a rapidly changing industry, and the biggest paradigm shift that has occurred is the move to digital-only banks.
Millennials, in particular, are moving more frequently toward digital banking. And as a result, they’re walking into their banks’ traditional brick-and-mortar branches less often than ever before.
This generation represents the greatest share of the U.S. population at 26% and the employed population at 34%, so it’s clear that their behaviors and preferences will have a profound effect on the future of the banking industry, particularly with regard to the way banks interact with their customers.
For more on this story visit the following link: THE FUTURE OF BANKING: Growth of innovative banking fintech services
Source: Business Insider