Millennials Prefer the
Dentist to the Bank
A three-year study of 10,000 millennials by Viacom indicates that the banking industry is at a higher risk of disruption by millennials than any other industry. The study indicates that 71 percent of respondents would rather go to the dentist than listen to what banks are saying, 53 percent believe their bank's offerings are the same as other banks' offerings, and 33 percent would consider switching banks in the next 90 days. Seventy percent think the way people pay for things will completely change in five years, and 33 percent think they will no longer need a bank at all. Another 73 percent are more excited about financial services offerings from Google, Apple, Amazon, or Square than offerings from their own nationwide bank.
From "Millennials Prefer the Dentist to the Bank"
St. Louis Business Journal (09/28/15) Edwards, Greg
A three-year study of 10,000 millennials by Viacom indicates that the banking industry is at a higher risk of disruption by millennials than any other industry. The study indicates that 71 percent of respondents would rather go to the dentist than listen to what banks are saying, 53 percent believe their bank's offerings are the same as other banks' offerings, and 33 percent would consider switching banks in the next 90 days. Seventy percent think the way people pay for things will completely change in five years, and 33 percent think they will no longer need a bank at all. Another 73 percent are more excited about financial services offerings from Google, Apple, Amazon, or Square than offerings from their own nationwide bank.
From "Millennials Prefer the Dentist to the Bank"
St. Louis Business Journal (09/28/15) Edwards, Greg
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