Millennials Hating Big Banks is a Myth

There is a prevailing thought in the fintech market that millennials hate big banks and are open to giving their financial lives to innovative fintech companies; data from J.D. Power shows that 56 percent of millennials have their core checking account with big banks and they are equally satisfied with big banks as they are with regional and community banks; almost 50 percent would choose Amazon to bundle a subscription service, second on the list is a bank or credit union, this is higher than Apple and PayPal; while millennials might not love banks they certainly still trust them in many cases and this shows there is a lot of opportunity available. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments