What do Millennials really want from their financial institutions?

At our regional THINK It Out in Livonia, Mich., Chris Ensley, Vice President and Strategic Sales Executive from the Strategic Partnerships Group at MasterCard provided a wealth of information on just this subject. Drawing from key demographic trends and MasterCard survey results, Ensley presented statistic after eye-opening statistic about engaging with Gen Y.

For example, did you know:

  • 59% of Millennials spend the majority of their time online?
  • 42% would rather be without their wallet and keys than without their phone?
  • 51% pay their credit card balances in full each month?
  • 27% say a social media savings club would help them save money?
  • Only 59% have a debit card; 46% have a credit card?
  • 72% would embrace a nontraditional financial entrant like Square of Paypal?

Enjoy this goldmine of insight!