Future of banking and money

Abstract

Indians less than 35 years of age, who have grown up in the internet age are commonly termed as “Generation Z”. These “youngsters” have different attitudes towards money and banking than the previous generation. Some of the attitudes exhibited by members of “Generation Z” are a strong preference for speed and convenience over layers of security, not perceiving banks as vastly distinct from one another in terms of their value propositions, and an irrational fear of credit based expenditure. Indian banks and financial service providers can leverage these needs to create successful products targeted at “Generation Z”