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Despite the growing importance of millennials as a customer segment for banks, older generations still carry plenty of value for financial services institutions. Moreover, it’s not the case that only young people want to use digital channels for their banking services.
We spoke to some older people (Gen X/Baby Boomers) to understand the reasons they use various banking methods, and why they don’t use others. While security was one of the key themes of the discussion, our panel did enjoy the ease that digital banking offered, and would consider using mobile channels if they too offered a secure and simple way to manage their finances.