The strategy: Smaller financial institutions (FIs) that serve an aging customer base need better ways to reach and appeal to younger customers who may not know what they have to offer. And because 50% of Gen Zers and 34.9% of millennials rely on finfluencer content to evaluate banking products and services, these creators can help FIs build relationships with potential new customers. 

But many smaller FIs may not know how to make them fit in their budgets. In interviews with EMARKETER, finfluencers Michela Allocca (@breakyourbudget), Taylor Mitchell (@taylormitchell.io), and Taylor Price (@pricelesstay) explained how such partnerships can become accessible even for small FIs.

Who are finfluencers? Social media has given these creators a platform to offer financial advice, initiate financial conversations, and review banking products. But FIs must understand that these creators have another side as well.