Leading fintech identified 4 product gaps from a survey of 500 millennials’ banking habits
18 Mar 2021
1 min read
Conducted N = 25 in-depth interviews of financially independent millennials in 2 weeks across 5 cities to understand their lifestyle and goals, financial and banking behavior and willingness to adopt new financial offering
Context
- Client: Large Fintech company
- Opportunity: Client was interested in understanding the digital banking behavior of millennials including:
- Customer lifestyle, goals & aspirations, purchase behavior, brand preferences
- Banking behavior & pain points with current offerings
- Financial behavior, preferred payment and investment modes
- Willingness to adopt a new financial product / offering
Our approach
- Conducted customer survey (N = 500) for millennials (21-27 years old) in 2 weeks across 5 cities (mix of metro and tier 1 cities) for different customer archetypes based on age groups, employment status, gender, income, educational qualification, educational background and years of job experience to understand:
- Lifestyle of millennials, purchase behavior, preferences & needs
- Financial and banking behavior along with usage, benefits and pain points
- Willingness to adopt a new financial product / offering
- Conducted N = 25 in-depth interviews of financially independent millennials in 2 weeks across 5 cities to understand their lifestyle and goals, financial and banking behavior and willingness to adopt new financial offering