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Article: Technology Key to Bridging the Gap Between Millennials' and Baby Boomers' Banking Needs, Reports Microsoft Study.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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As retail banks struggle to recapture customers in the wake of the global economic crisis, emerging generational differences in the way consumers wish to bank will require financial institutions to adapt to the divergent needs of their customers, reports a study released by Microsoft Corp. at the BAI Retail Delivery Conference & Expo.
The Microsoft "Millennials and Baby Boomers Banking Channel Preference Survey 2009," conducted by Washington, D.C.-based KRC Research, found that adult millennials (ages 18-29) and baby boomers (ages 45-63) prefer very different channels for their banking activities. These preferences vary from high-touch, in-person experiences at ...