Gen Z and Banking

How Can the Industry Capture the TikTok Generation?

About This Report
Gen Zers’ influence on banking will begin to emerge as more than 4 million of them per year become mobile bankers through 2026. Banks must adapt to provide the services these digital natives demand.
Table of Contents

Executive Summary

Gen Zers provide a pivotal opportunity for banks as at least 4 million of them will open accounts each year through 2026. But the industry must reach these potential customers where they live—via TikTok, YouTube, and Instagram, to start—and compete with the high standards set by fintech and Big Tech.

Key Question: How should banks address Gen Z’s expectations for banking services?

KEY STAT: Gen Z mobile banking adoption will reach 33.7 million consumers in 2023 and will continue to rise sharply, at a compound annual growth rate (CAGR) of 12.4% through 2026.

Here’s what’s in the full report


Exportable files for easy reading, analysis and sharing.


Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Executive Summary
  2. The demographic shift is underway.
  3. Gen Z habits are changing the banking industry.
  4. Big Tech, neobanks, and payments apps loom as stiff competition.
  1. Despite their tech savvy, Gen Zers find financial preparedness challenging.
  2. Gen Zers’ credit needs are evolving.
  3. Social media has changed how to reach Gen Z.
  4. How should banks meet the Gen Z challenge?
  1. Sources
  2. Media Gallery


Tyler Brown


Caitlin Cahalan
Researcher, Financial Services
Eleni Digalaki
Principal Analyst
Already have a subscription?Sign In

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry

Become a Client