How can your institution ensure that Millennials want to bank with you? WAUSAU has both the insight and the technology to help make that happen.
Constantly Connected. Moms and dads, young professionals and students, Millennials are weaned on constant connection. They gravitate toward the latest tech breakthroughs. They tap friends via high-speed Internet access, mobile phones, search engines and social networks. So they can’t live without services like online account opening and bill payment, paperless banking and remote deposit.
That puts secure RDC at the forefront of new financial technology. RDC solutions and products from WAUSAU will help keep Millennials constantly connected -- to you.
On the Move. Millennials love their mobile devices and are adopting mobile banking. Many more will adopt it when concerns about security evaporate. It won’t be long before most Millennials will make deposits and do their day-to-day banking exclusively with mobile devices. And even wait-and-see Millennials aren’t likely to do business with a financial institution that doesn’t offer remote deposit capture.
So for financial institutions, risk monitoring is the key. While Millennials represent enormous potential revenues, they currently inhabit a less-than-ideal demographic when it comes to risk. WAUSAU's risk monitoring solution deploys sophisticated rules designed to set limits and ferret out risky behaviors, combined with an easy-to-use interface for administration, reviewing and decisioning. This makes it safe to roll out the new technologies Millennials demand.
Green. Millennials' concern for the planet dovetails with their demand for mobility and efficiency. That means paperless is becoming the preferred means of banking — a win-win for customers and financial institutions alike. It goes way beyond imaging at the teller line. From opening a new account, to mortgage applications and financial investments, Millennials will expect to go digital and electronic, saving the truly paperless enterprise significant costs.
WAUSAU has the innovative, end-to-end software to make true paperless banking a reality. The solution is platform agnostic, working seamlessly with everything from new accounts to lending, HR, safe deposit, accounts payable and even documents you create in word processing. It also integrates with any document management system for image and document archive and electronic workflow.
Overview
Generation Y Banking
Banking Without Walls
They're deciding where to bank right now -- and they're nothing like their parents. Children of Boomers, also known as Echo Boomers and incorporating Gen Y, "Millennials" are critical to competitive success for financial institutions. Born between about 1980 and 1995, Millennials represent an estimated $80 million or more. They are destined to be the most powerful consumer group ever known. In 2010 alone, they represented $306 billion in spending power—and they also expect to inherit $17.8 trillion. One survey suggests that institutions can boost revenues up to 10% by embracing Gen Y now.