How Banks Can Enable Young Consumers with Financial Education
As younger consumers expect a flawless, frictionless digital experience, traditional financial institutions need to adapt to meet them where they are.
When basic personal finance principles aren’t understood, it can lead to poor decisions about money. Banks and credit unions have an opportunity to build trust in their communities by providing financial education to consumers of all ages.
To support teens new to digital banking, Zelle® partnered with EVERFI to create Money Moves: Modern Banking & Identity Protection®, a course designed to prepare high school students to bank responsibly in the digital age, protect themselves from scams and fraud, and secure their financial future.
During the 2020-2021 academic year, the program reached more than 66,000 students across 1,443 schools nationwide. After taking the course, fewer students described financial institutions and tools as confusing, intimidating, or difficult to use.
- 54% decrease in students who say financial institutions are intimidating
- 49% decrease in students who say online banking is difficult to use
- 32% decrease in students who say P2P transactions are confusing
What You’ll Learn:
- How to build a relationship with a new, younger customer segment
- How financial education can fit into your marketing mix
- How financial institutions can quickly tap into innovation and digital banking to build brand affinity with younger customers
