Five ways retail banking needs to evolve for Gen Z

Outlines the changes occurring in the banking sector and what banks need to do to appeal to younger cohorts.

Near The Creative Engagement Group offices in Manchester, UK, is a colourful reminder of how banking is quite visibly evolving to meet the demands of new customers.

Across the street from each other are Clydesdale and Yorkshire Bank’s concept store B Works (‘Like a coffee shop, but our coffee is free and we’re a bank’) and Lloyds Bank, replete with a vegan café. Millennial and Gen Z colleagues sell the benefits of online-only banks Monzo and Revolut, whilst self-proclaimed ‘challenger bank’ N26 pops up into social media feeds. Change is evidently afoot.

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