Great article. As far as how FinTech companies can separate from the pack, here’s our two cents:
Millennials are smart consumers, and are less inclined to brand loyalty than they are to finding the best services. For example, millennials are much more likely to switch banks than any other generation, if they find a bank that better suits them.
FinTech companies need to be armed with solutions that are affordable, convenient, and online. Millennials won’t be fooled by hidden fees or rates that aren’t competitive. No one wants to wait for customer service, either. Customer support should be friendly, live, and available through multiple channels. This is all part of gaining that customer trust and loyalty. At OnePay, these are the things we strive for, and so far we’ve had great customer feedback.