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Mind the age gap: consumers & financial institutions

When it comes to consumer banking, how do different generations interact with their financial institutions? From overall banking preferences to credit card products, Vantiv teamed up with Socratic Technologies to take a closer look. Here are key takeaways from three ShopTalk surveys on how Millennials (ages 25-34), Gen Xers (ages 35-49), Baby Boomers (ages 50-64), and Retirees (ages 65+) feel about their banking relationships. 42% would switch financial institutions for convenience, the highest of all age groups 61% of Millennials participate in cash back credit card rewards programs.

Spotlight

Capital One

Capital One Financial Corporation, incorporated in July 21, 1994, is a diversified banking company focused primarily on consumer and commercial lending and deposit origination. Its principal business segments are Local Banking and National Lending. Local Banking includes consumer, small business and commercial deposits, and lending conducted within its branch network. The National Lending segment consists of three sub-segments: the U.S.

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Mind the age gap: consumers & financial institutions