We set out to identify the industries most likely to be transformed by Millennials, the largest generation in American history.
3 years • 15 categories • 200+ interviews • 10,000+ respondents
Banking is at the highest risk of disruption.
53%don’t think their bank offers anything different than other banks.
71%would rather go to the dentist than listen to what banks are saying.
68%say that in 5 years, the way we access our money will be totally different.
70%say that in 5 years, the way we pay for things will be totally different.
33%believe they won’t need a bank at all.
The change will be seismic.
Nearly Halfare counting on tech start-ups to overhaul the way banks work.
Millennials believe innovation will come from outside the industry.
73%would be more excited about a new offering in financial services from GOOGLE, AMAZON, APPLE, PAYPAL or SQUARE than from their own nationwide bank.