This is How Young Professionals Research And Choose Financial Products

27 Oct 2015

What is the importance of a banks digital strategy and presence? According to a report by KPMG Australia, online research is the most commonly used channel among young professionals when they choose financial products. From this we can draw the conclusion that it will become increasingly important in the future for banks to invest in user experience design, search engine optimisation and online content.

Furthermore we can see that over three-quarters of the favored channels are not directly controlled by banks. When young professionals research and choose financial products they often visit independent comparison websites and social media. This young generation are digital natives which means that they have grown up with this technology and that they are using it as a tool to make well-informed and smart decisions.

So how do banks face this challenge? We at Thinque believe that businesses within the financial industry need to acknowledge the technological and behavioural trends that is driving disruption. Secondly they need to think about how they can create and design a customer journey where the digital and analogue touchpoints are integrated and seamlessly connected.

For further reading about the digital disruption and the future of banking check out these blog posts:

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