The new generation loves mobile

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internet. Mobile technologies are penetrating more and more spheres of life. The speed of this process is increasing. This trend affects all markets and consumer behavior. Smartphones have introduced a new paradigm of providing services: you can get them simply through an application. It has become the norm for any company to release a mobile version of the site and a mobile application. Banks have always been at the forefront of this process.

technologies and prefers to consume services with their help. In the US alone, there are currently about 85 million millennials who cannot imagine their lives without smartphones. "Smartphoneization" and the penetration of IT into all spheres of life have left a certain imprint on the way of thinking of the representatives of this generation, accustoming them to almost instantaneous responses to their requests. It is important to take these behavioral features of the "Internet generation" into account.

Customer focus, personalization and speed. Customers have become switzerland cell phone number list more open to new forms of interaction with banks and other financial organizations. In particular, they increasingly expect individual offers. This is evidenced by the explosive growth in popularity of such projects as Airbnb and Uber. Banks are learning to offer increasingly personalized products and are trying to build communication with each consumer. Modern trends in communications help with this again. Such bank-client communication has become technically possible, which the former did not fail to take advantage of.

Banks need to understand that customers expect the same speed of service from them as from competing fintech services. Consumers increasingly do not understand why a mortgage application takes a week to be processed.

Why can it take another week to issue a credit card? Why, for example, can't they split a restaurant bill between several people and each pay their share from a smartphone. But Uber already provides such functionality. Banks should be aware of such needs of their clients and work with them.

Independent marketplaces sell products from many different banks and not only banks. A major global trend in the banking sector is that the main competitors of banks in the near future will not be banks but technology companies, and, above all, large Internet companies. The latter have very rich experience in various markets and, in general, they are more innovative and flexible in their activities. In order to meet these new challenges, banks are forced to enter new niches for themselves. They are looking for new forms of cooperation.