Occupy Wall Street is swiftly becoming a memory, but the millennial generation that helped launch the sustained protest movement hasn't lost its antipathy toward the big banks it targeted. Seventy-one percent of millennials would rather go to the dentist than listen to anything banks have to say, according to the Millennial Disruption Index, a three-year study of roughly 10,000 millennials, born between the years 1981 and 2000, conducted by Scratch/Viacom Media Networks.With ultra-low manipulated interest rates from the Fed: what's the big selling point about having a bank account at a big bank.
One in three millennials are also open to switching banks in the next 90 days. And four of the 10 most hated brands among millennials? You guessed it: Large financial institutions like Citigroup and Bank of America. It's enough to give any investment banker or CEO of a major financial institution pause, especially when it comes to wooing, advising, and keeping the younger generation happy.
Friday, October 03, 2014
Millennials Really Don't Like Big Banks. That's Going to Disrupt the Financial Services World.
The National Journal reports: