Acumen Insights

Bank on Content

Research by Newscred indicates banks can build better relationships with young Millennials (18-to-24 years old) by creating content related to life’s financial decisions.

Young Millennials already demonstrate the highest level of trust in banks among adults, with 81 percent saying they trust their bank compared with the average of 67 percent. They engage with their banks on Facebook at more than twice the average rate (25 percent vs. 11 percent) and also have high rates of engagement via app (56 percent) and text message (50 percent).

But banks could strengthen this trust by offering “helpful, useful content” about travel, careers, the local area, music, technology and gadget guides, recipes, health, fashion and beauty (66 percent of 18 to 24 year olds say their trust would increase compared to 56 percent overall). Over half of 18 to 24 year olds (59 percent) say they’d spend longer on their bank’s website if they provided interesting articles (vs. 36 percent) and 37 percent say they’d be inclined to share interesting articles from their bank on social media, nearly double the survey average response.

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