Youth banking is a gateway to long-term customer relationships. But many financial institutions (FIs) miss out on properly building these relationships, per The Financial Brand. While it’s important to tailor marketing campaigns to young customers and their parents, the courting shouldn’t end with account openings. The longest-term customer—a Gen Alpha at the very beginning of their banking journey—will eventually make their own decisions about where to bank. If they’ve enjoyed using an FI’s app and resources and feel like the FI understands them and their needs, they may stay put.
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