Generating Appeal with Younger Clients

How can small banks and credit unions be more competitive? The ICBA pivots in its fight against tax-exempt credit unions. Klarna files for IPO. Neobanks ditching Evolve.

Hello again, Bank Slaters!

I had another great experience at ICBA Live, meeting with bankers and learning more about their plans for 2025 given all the changes in Washington. We’ll be sharing our takeaways in the coming weeks. Stay tuned.

Speaking of Washington, I just contributed an article to FinXTech that shares thoughts on how banks should approach crypto, given the friendly messaging coming from the White House. 

We also announced an agreement to serve as a media partner for the Banking Transformation Summit, to be held in London on June 18-19. It will be a great event, and we expect to generate some fantastic insights in the weeks leading up to the conference.

Interested in attending? You can register here. Bankers attend for free. Using the code TheBankSlate20, everyone else can still receive a 20% discount. A live-streaming pass will also be available for interested parties in the U.S.

---

Let’s talk about courting younger customers.

This is a challenge for banks and credit unions of all sizes. Digital transformation is getting a lot of attention. An Apiture survey found that more than half of Gen Z and millennials list digital banking as their top requirement for choosing a new institution.

The study also found that a large percentage of those customers consider a large bank to be their primary institution. What can smaller banks and credit unions do to be more competitive, given limited funds for wholesale tech upgrades?