Banks Might be Missing the Chance to Better Serve Baby Boomers

One of the biggest trends within banking and fintech is how will companies figure out how to shift their focus from millennials to generation Z; but one of the biggest segments that is being overlooked is baby boomers; writing his weekly column in Forbes Ron Shevlin of Cornerstone Advisors says lifestyle, family dynamics and healthcare are three reasons that make baby boomers a unique banking segment; there are some simple ways banks and fintechs can better serve baby boomers: guard against unethical and fraudulent behavior, allow advisors and family members to access accounts easier, digitize estate planning and improve management of healthcare costs; Shevlin has pointed this trend out for a few weeks that banking is becoming more segmented by the day and banks need to begin segmenting themselves to better serve their core customers. Forbes

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