|The traditional life-stage model has been very useful for financial institutions and their marketers. But recent research suggests that every generation approaches their finances differently.|
Possible reasons for this include the Great Recession, the proliferation of digital technologies, or simply the passage of time. One thing is clear: financial institutions that want to grow their loan portfolios need to understand these generational differences. They present real opportunities for more personalized loan products, emphasizing the digital experience, and delivering a frictionless process for customers.