Technologically savvy Gen Z steps into the spotlight

first_img 16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The kids are growing up. As those in the next generation – Gen Z – move toward adulthood, they’re doing things their own way, including how they manage and move money. To address their unique experiences and preferences, financial institutions will need to take a fresh look at services and strategies.Who is Gen Z? Born after 2000, this generation’s outlook and sense of security have been affected by the aftermath of 9/11 and the financial crisis. Compared to millennials, they’ll likely face even greater challenges as they move into adulthood, including soaring housing costs and stagnant wages. As the first true digital natives, they’ve grown up connected to smartphones and social media, are well versed in digital technology and accustomed to a continual flow of information – all factors that will influence how and where they bank.New research from Raddon, a Fiserv company, reveals several counterintuitive findings on the financial behaviors and preferences of this generation. It shows 44 percent of Gen Z anticipate supplementing traditional banking services with solutions from technology companies. However, 34 percent express a preference for interacting face to face at a bank or credit union, banking much like their grandparents. The study, Generation Z: The Kids Are All Right, was based on a survey of more than 2,500 high school students ages 16 to 18. continue reading »last_img read more

Poland will not let EU ‘force’ it into allowing gay marriages: Justice minister

first_img“This is bizarre. If you want to get these [EU] funds, you should automatically accept how the EU expects them to be spent, because adhering to the rule of law means adhering to basic human rights and it is about respecting them,” she said.Poland is at loggerheads with the European Commission over several issues, including judicial reforms which Brussels says undermine the independence of the judiciary. The government says the reforms are needed to overhaul the communist-era system. Poland’s justice minister said on Monday the European Union may be in a position to force Warsaw to legalize gay marriage if EU leaders make financial aid conditional on upholding democratic norms, and warned that this was unacceptable.At talks in Brussels on the next EU budget and an economic recovery plan, some leaders have demanded that payouts be blocked to member states which the executive European Commission (EC) deems to be undermining democratic values.Justice Minister Zbigniew Ziobro said this would give Brussels the possibility of “arbitrarily” blocking payments worth billions of euros. “There is a real risk that we may find ourselves in a situation where the EC will effectively force us to introduce the so-called homosexual marriages with the right to adopt children,” he told a news conference.”Well, we cannot agree to this under any circumstances.”The ruling Law and Justice party (PiS) came to power five years ago on a pledge to defend traditional family values. Gay marriages are illegal in Poland and President Andrzej Duda was re-elected this month after saying he would not allow adoptions by gay couples or permit classes on gay rights in state schools.Gay rights activist Alicja Sienkiewicz of the Lublin Equality March Association, which supports lesbian, gay, bisexual and transgender people, said members of the LGBT community were being portrayed as enemies of the state.center_img Topics :last_img read more