We are currently designing the customer experience and the associated brand identity and space for a bank aimed at younger generations.
While branch visits are becoming less frequent, their relevance remains even more significant, and we’re helping redefine how to engage the infamous Gen Z in the branch physical touchpoints, within a wider digital journey.
Here some insights
Gen Z is getting older…
Gen-Z actually means nothing: general attributes related to generations are only approximate indicators of macro-behaviours and attitudes related to specific contexts. BUT…Let’s suppose their existence, for this insight’s sake…
As Generation Z transitions into adulthood, their financial habits and expectations are reshaping the banking landscape. With 11% expecting to get engaged or married in the next six months (GVI Global Research, February 2024), financial planning is becoming a priority. However, traditional banking institutions may not be fully aligned with their needs and preferences. Are banks still relevant to this new generation, or are they perceived as outdated?
Gen Z is often generalized as a tech-savvy and socially conscious generation, but broad generational labels only provide an approximate understanding of their behaviors. What’s clear, however, is their strong economic consciousness:
Despite being digital natives, Gen Z still acknowledges the importance of physical bank branches. There is a cultural gap and a bias when it comes to relating to traditional, old-fashioned banks. However, they visit them less frequently than older generations and expect a vastly different experience:
To appeal to Gen Z, banks must rethink their positioning and value proposition. Some key areas of focus include:
To bridge the generational gap, banks should prioritize:
Simplicity and Proximity – Reducing formalities and making banking more approachable.
The traditional banking experience, with its rigid structures and formal environments, is becoming obsolete. Instead, banks should aim to create hybrid social hubs that foster community engagement and financial well-being.
The shift from hierarchical banking to horizontal, interactive spaces is essential for staying relevant to younger generations.
We are envisioning space as a gathering of people, with different possibilities to talk, share, listen, and plan—addressing real life in an honest and horizontal approach. Fewer moments of interaction, but more valuable ones.
At the same time we may shift to spaces that represents care for the territory through real activations and elements of membership and belonging. A social hub that can change and adapt according to needs, integrating third-party products and services.
By embracing innovation and redefining their role, banks can remain integral to Gen Z’s financial journey—ensuring they are seen as facilitators of financial empowerment rather than relics of the past.
For insights on creating less boomerish banking formats, contact: info@dinndesign.com