Digital Banking for Millennials: The Key to Attracting the Next Generation of Entrepreneurs
Only a small percentage of millennials have chosen community banks (6%) or credit unions (8%) as their primary institution. However, 44% of millennial-run businesses are likely to switch primary institutions in the next two years — and more than half (55%) would prefer to bank with a community bank or credit union if it offered products and capabilities similar to a large bank. If your financial institution looks to expand in this key business segment, consider the following four key strategies to help you stand out.