
Banking Transformed with Jim Marous What Gen Z Really Wants from Their Bank
Jun 17, 2025
Lamont Young, EVP at Citizens Bank, dives into how banks can truly connect with Gen Z and Millennials. He emphasizes the importance of blending digital innovation with personal engagement. Young discusses the need for legacy institutions to redefine themselves and meet the fast-paced, tech-savvy demands of younger consumers. He highlights the significance of community engagement and how banks can utilize data to enhance customer experiences. Ultimately, it's about building trust through personalized, empathetic service during uncertain financial times.
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Conduct Financial Health Checkups
- Use financial health checkups like medical checkups to proactively uncover customer needs.
- Cultivate relationships early even if immediate product sales aren't possible.
Trust Builds Long-Term Loyalty
- Millennials and Gen Z often get financial info outside traditional banks but want trustworthy, anxiety-reducing advice.
- Building trust through consistent value prepares banks to serve clients' evolving needs.
Combat Passive Churn Strategically
- Identify triggers for passive churn using data models and engage customers early to prevent attrition.
- Add value by offering timely insights, not just product promotions, to deepen relationships.
