Finance industry insights: The secret to winning a new generation of customers

We’re on the cusp of the largest wealth transfer in history. As the baby boomer generation gets older, their accumulated wealth is being transferred to a new generation of financial consumers who will need products and advice.


A new generation comes online

A new wave of consumers is heading online to manage their finances and grow their wealth. By delivering on the desire for simplicity, confidence, and personalization, brands can identify opportunities, build urgency, and grow share of wallet with this new generation of financial consumers.

Mobile searches related to financial planning and management have grown 70% over the last two years.

Google Data

Searches for “saving advice” are up 15% in the past year.

Google Internal Data

Deliver simplicity

With more information comes more confusion, and people are craving help. People don’t just want a brand; they want a trusted adviser, one that can cut out complexity and deliver clarity.


of people consolidate their financial products and relationships to manage everything in one place or use a single login.


of financial consumers want additional digital features and would find them useful.


Instill confidence

People want help making informed financial decisions, achieving their goals, and navigating life events. Brands that can help in those areas will show they’re a partner people can trust.

Next to “convenience” factors, trust is the most frequently cited reason for deepening a financial relationship.


Top 3 areas where consumers are more financially confident:
– managing checking and savings
– paying bills online or in app
– understanding their credit score


Top 3 areas where consumers are least financially confident:
– planning for retirement
– managing personal investments
– research new financial products


Personalize the experience

People feel their bank is the company that knows them best. They expect their bank to provide support, insight, digital experiences, and offers tailored to their life stage and account history.


of people agree that personalized help is a key motivator in consolidating their financial products and relationships.


People who were asked what types of companies know them best said their bank was No. 1.


of consumers want a new product, in part because of an offer. Yet 65% of consumers think they are not receiving curated offers from their bank.