Author: Michael Araneta

Market Overview
February, 2009  -  Doc # FIN216526
Number of Pages: 14
Number of Figures: 2

This Financial Insights report looks at the opportunities presented to Asia/Pacific banks by the Generation Y demographic, touted to be the next big thing in banking. The report discusses the characteristics that define the identity of this generation and outlines how banks are to build their strategies around these characteristics.

Michael Araneta, senior research manager, Financial Insights Asia/Pacific, comments, "Banks' Gen Y strategies are evolving from simply making modifications to current channel and customer strategies, to creating segment-based strategies, and finally to bringing to market innovations in products and in new channel formats. The motivations of banks to go after the Gen Y market are also expected to evolve. The focus amid the ongoing crisis might mainly be to access new markets and attract new customers. After the crisis subsides, banks will focus on being transformative. Banks will increasingly respond to the habits and preferences that make the Gen Y demographic unique from previous generations and, in doing so, change the ways by which banking is done."

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Asia/Pacific Banking Advisory Service

ING Direct, National Australia Bank, Rabobank, UBank

Asia Pacific (regional research excluding Japan)

Insights: Financial, Banking