When it comes to competing with megabanks for Millennial consumers, it’s helpful to identify the battles worth winning. And fortunately for your institution, Millennials recently revealed what would make them choose you over the megas.
In a study commissioned by Kasasa and conducted online by Harris Poll, 65% percent of Millennials said they’d be more open to switching to a community bank if it offered mobile services (like a mobile app or mobile check deposit). And while 64% of Millennials would rather do anything than switch financial institutions, you can combat this resistance by offering rewards (the perk they want most!).
By focusing on the benefits Millennials are looking for, like rewards and technology, your community financial institution can get their attention and compel them to consider you. See more about our study below and get the full results here.