IF you are, or know someone in their mid 20's - 30's, you've met someone of a wildly unique generation. They were the only generation in which the massive tech boom happened during their formative years, shaping who they are forever. We are the Pre millennials, we grew up playing with chalk, then an old 4 button Nintendo, then boom, we have an entire computer in our pocket. We went from waiting 10 Minutes for our AOL account to connect like a Fax machine (if you know the sound, you know the sound), to being disgruntled at losing our blindingly fast 4GLTE network driving though the panhandle on a road trip. We also grew up during the market crash of 2008, in fact many of us were just old enough for it to truly effect our worldview of economics. What this has done, has not only formed our culture, where we go, what we do, but also where we shop, eat, and even Bank...
Because of the unprecedented velocity of technological advancement, we do not take for granted what your typical millennial/post-millenial consumer would. Were downright fascinated by technology, because were the only ones who grew up watching movies wishing for that kind of tech, only to see it created by our mid 20s-30s. To us its more than a tool, its a destination. Let me explain.
When Apple pay first released, not every credit card/bank offered it, and you know what happened? A spike in new card accounts with the companies that processed Apple pay. I was included in that stat, because for us, the "coolness" of new technology drives our consumerism. It made us feel like a kid again.
I now almost exclusively use the airlines that offer kiosks, because its not just easier, its exciting!
Marcus Theaters has done an incredible job with their ticket app, and your ability to walk up to a kiosk, swipe the card you used on the app, and whala, out pops your tickets.(so guess where we always go watch movies?)
In this new era of business, a banks ability to effectively and tastefully offer new technology and conveniences, will in turn pull in new customers based simply on the fact that we love new tech. I personally am excited to eventually see a bank bite down on a future branch, truly take technology to heart and offer something millennials will drool over. Making the branch a major destination once again.
As always I am an advocate for all types of technology in banking, whether it is Apple pay, online banking, offering a highly convenient ATM fleet, or going head first into kiosk assisted self serve branch platforms. I urge any and all of you to look into what is doable, and able to be blended into your businesses core values and wants for your customers.