Millennials move fast. Technology moves fast. The financial services industry needs to keep up.
After a year of research and development, Rocky Scopelliti, global thought leader and industry expert at Telstra, has released his latest report: “Millennials, Mobiles and Money – The forces reinventing financial services.” This research report (one of the largest published global studies on the topics), is a window into how the enigmatic Generation Y (now the largest global demographic group), will transform the financial services industry.
The New Trinity for Millennials: Trust, Technology and Relationships
Specifically, this new report provides insights on the technology-driven expectations of the Millennial customer and where institutions will need to digitally transform in order to compete. It discusses the technologies with the potential to help financial services businesses build trust and stronger relationships with this valuable and growing demographic group. These include:
- Software-defined cloud networks that can be reconfigured in real-time by applications to dynamically provide the required features and access critical for blockchain;
- Analytical platforms that provide access to data and tools so institutions can quickly gain new insights into the customer and turn them into operational actions;
- Cyber security and identity platforms to protect highly distributed composite services and personal data and that can evolve to address new and emerging threats for both Millennials and institutions, and;
- Digital platforms that reduce the cost, time and complexity of building, deploying and maintaining applications.
The comprehensive research involved studying more than 32,800 Millennials across Australia, Singapore, Malaysia, Indonesia, Hong Kong, China, United Kingdom and the United States.
To download the full report visit https://www.telstraglobal.com/millennials and to see how TeleSign can help businesses implement security and identity assurance without sacrificing mobile user experience, check out our eGuide: How to Increase Mobile Registration Conversions and Improve Account Security.