Think that adults age 40 and over are your biggest worry? Think again. When it comes to servicing the largest group of potential customers, this role goes to the Millennial population and is closely followed by Generation Z. For this specific audience, the digital user experience takes a much higher priority.

While in-person or over-the-phone interactions may have been the preferred method in the past, the next generation of banking customers are challenging this idea, and backing it up with surprising statistics. 

No more phone calls, please

For Millennials, 81% of customers in this age range are concerned with being tied to a phone in order to receive customer service. After all, many in this age range work multiple jobs and cannot afford the time it takes over the phone to get answers to bank-related questions.

Text messaging options, please

Consider the fact that 77% of customers in these age ranges support any company that offers text-based communication. To be clear — this more than 3/4ths of a potential consumer base. Catering to consumer needs is one of the most important parts of doing business, and providing text messaging solutions is one of the most simple ways to do this.

Send me a text and I will respond

In their day-to-day life, Millennials often opt to receive SMS communication from businesses instead of email communication. This preference is not just about efficiency. Response times by text message are 30 times faster than response times by email.  

At Shastic, we keep a close eye on how the banking world is communicating differently and build digital tools to fit in with the growing Millennial population. For more information on our services, please reach out today.