Experts in financial consulting named the main preferences of representatives of different age groups when dealing with banks.

For example, Millennials value the convenience of services more, Homelanders enjoy online shopping, and representatives of the Generation Alpha are accustomed to acting with the help of a virtual assistant.

The results of the study of client requests were shared in the S + Consulting company, which is engaged in financial analytics and consulting, reports Rusbase.

According to S + Consulting, consumer habits are shifting towards generations, the main feature of which is the digitalization of all spheres of life and personalization. In this regard, experts have singled out several trends that have been formed in the market:

- high integration of interaction with technological and recommendation services of artificial intelligence (AI), machine learning (ML), BigData and augmented reality (AR);
- personal assistant;
- financial services integrate into the daily life of people, the activities of companies and banks become “invisible” to the client.

Based on client requests, S + Consulting experts identified the preferences of representatives of different age groups when working with banks:

- Millennials (born in 1981-1996) prefer personal communication and physical offices, 49% appreciate the convenience of services;

- Homelanders (born in 1997-2010) consider the smartphone the most important personal device of life, 72% enjoy online shopping, 85% trust third parties to collect financial information about themselves;

- representatives of Generation Alpha (born in 2010+) are accustomed to performing actions with the help of a virtual assistant and appreciate the speed of reaction of digital banking services to their requests.

S + Consulting specialists concluded that over the next 5 years, the overwhelming majority of active clients of banks will be Millennials and representatives of Generation Z. Already now, the share of such clients is about half, S + Consulting specifed.

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