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Millennials and Gen Z are reinventing banking. 

Millennials and Gen Z are reinventing banking. According to Morgan Stanley research from 2019, Millennials are “the largest driver of net new loan demand and will continue to be for the next eight years” especially as Gen Z ages into the key 25-40-year-old “lending sweet spot.” While many of Gen Z are still considered kids, they will play a major part in how banking evolves. Morgan Stanley’s data found that 80% of Gen Z are already using mobile banking. Meanwhile, Experian data found that out of recent high school graduates who never took a personal finance class 43% said they want to learn to save, 38% want to learn to manage their expenses, and 36% want a class that teaches them how to file—and how they learn may different significantly from previous generations. (Forbes)

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