The Online Banking Behavior of Generation Y
21 Pages Posted: 16 Jan 2015
Date Written: January 14, 2015
This paper constitutes a descriptive study of the online banking and financial behavior of Generation Y consumers based on 110 completed surveys. Topics covered in this study were drivers behind their choice of bank, online banking behavior, and influencers of financial decisions. Research findings suggest that Generation Y does not wade through information overload – instead, they resort to alternatives steps in product selection, such as, relying on a personal recommendation by a trusted influencer. Although generation Y spends much of their time online, survey findings indicate that college students are still learning how to use online banking, relying instead on their parents and the ATM for all their banking needs.
Keywords: Consumer Behavior, Banking Behavior, Generation Y, Millennials, Life Style, Online Banking
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