‘Generation Z’ is rapidly entering into adulthood, beginning to embrace their long-sought financial journey. This generation’s unique engagement with finances and digital banking is reshaping the financial landscape, setting a new bar for experience, personalization, and standard expectations. Born into a world of instant access and digital fluency, Gen Zers expect seamless, intuitive financial services that integrate effortlessly with their tech-centric lives.
Their engagement goes beyond simple ‘usage’ of the digital channels: Gen Z actively seeks financial literacy, values transparency, and prioritizes ethical financial practices. With engagement rates reaching 71%, Gen Z accesses digital banking platforms more often than any other generation. Utilizing digital banking not only to view balances, but also to leverage financial wellness tools, this generation demonstrates a proactive approach to managing their finances. This high level of engagement, despite a large portion of Gen Z still being under 18, highlights their early and deep connection with digital financial tools. This heightened engagement reflects their demand for personalized, seamless, and ethical digital banking experiences that align with their tech-savvy lifestyles. This is not just a customer base, but a group of informed and proactive participants in their financial futures.
Recognizing this shift and adapting quickly is key. To attract and retain Gen Z customers, banks and credit unions need to offer advanced digital banking solutions that provide an experience that surpasses and competes with industry-leading standards, embeds personalized financial advice, and delivers clear ethical messaging around their mission and practices. Embracing these strategies will not only draw in this vital demographic but also set the stage for a more dynamic and engaged financial future.
“The time to act is now.” States Jill Flaherty, First Vice President of Business Development ”With COCC’s digital banking seeing engagement numbers heighten across Gen Z, out of millions of other users in varying generations, it’s clear that capitalizing on the ‘most engaged generation’ as they enter the most critical point of their financial journey to ensure long-term growth and relevance in a rapidly evolving marketplace is key.”
Feature Highlight: COCC’s premier digital banking platform leverages a research-backed, industry-leading experience, designed for scale while addressing an individual’s unique needs. The platform was built to support real-time personalization and interactive financial literacy tools, enabling financial institutions to provide dynamic, contextually relevant interactions across all digital channels.
