Large Fintech uncovered 4 key product gaps after surveying 500 millennials on banking behavior
15 Mar 2021
1 min read
Customer lifestyle, goals & aspirations, purchase behavior, brand preferences
Context
- Company Description: Leading Fintech company
- A leading Fintech company wanted to understand 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