Older generations of Americans will transfer $124 trillion of wealth to Gen Z and Gen Alpha heirs by 2048, according to research firm Cerulli Associates. This sets up a huge opportunity for banks that can effectively target younger generations. By teaching them financial literacy early, creating digital tools to help them manage money, and equipping accounts with gamified savings, spending controls, and other modern features, banks can build lasting relationships with customers from an early age, one expert says.
Learn how Austin Capital Bank launched a new savings account that incentivizes parents to protect their children from fraud, and read how to design products that will resonate with younger customers.
How is your institution planning for the "great wealth transfer?" Are any products gaining traction with younger generations? How does community engagement factor into your strategy?
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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