Discussing the latest millennial banking trends, Alan Shields, Group CDO RFi Global joins AusBiz TV and states that people across generations and around the world are rebuilding confidence about their finances. Delving into RFI Global’s latest Global Digital Banking Survey which finds that young adults (those aged 18-34) are the most optimistic.
Alan says here at home, most Aussies (like about 9 in 10) are confident about maintaining or growing their income within the next six months. But hold your horses because it is the younger generation that holds the highest levels of optimism: Alan says almost half of 18 to 34-year-olds expect their income to increase before the end of the year, compared to 25% of those over 34. Alan says the needs of the digital banking consumer are changing faster than ever and the pandemic seems to have galvanised the young’uns in particular to save and invest more.