Marketing Fintech to Gen Z: What You Need to Know

Marketing Fintech to Gen Z: What You Need to Know

Fintech products are popular with consumers of nearly all ages for clear reasons. Everyone over a certain age needs to manage their finances and perform basic financial tasks on a regular basis. Thus, products that make it easier to do so appeal to the vast majority of adults.

That doesn’t mean every single fintech app targets the same age group, however. Different products are intended for different audiences. For example, some fintech entrepreneurs are tailoring their products to the expectations and preferences of Generation Z, the cohort of young people born between the mid-1990s and early 2000s. These youth are now reaching an age when they’re beginning to use banking and financial services, and they will be looking for products designed to meet their specific needs and tastes.

Fintech developers preparing to target Generation Z and other younger consumers should keep the following tips in mind:

Personalization is important.

Artificial intelligence (AI) used to be dismissed as mere science fiction, but it’s already part of our lives. Major companies are using AI in a variety of ways. For example, digital assistants use what’s called natural language processing to interpret voice commands, and some are capable of learning new skills on their own, without explicit instructions.

mobile banking

Businesses also use AI algorithms to offer personalized service to customers. For instance, when you’re browsing an online shop like Amazon, the site tracks your behavior to better determine what types of products and deals you would be most interested in. This allows the site to personalize your experience accordingly.

As more companies rely on such algorithms, more consumers have come to expect personalized service. This is particularly true of Generation Z. While older consumers also appreciate personalization, younger consumers have grown up in a world where it’s always been relatively common. A fintech product that doesn’t offer some degree of personalization may seem lacking to them. For example, AI can be employed to develop “robo advisors” that analyze a client’s finances and provide personalized advice. Of course, a computer cannot provide the same level of analysis and recommendations that a financial planner can. However, a robo advisor can be extremely helpful to someone who cannot afford the high cost of a human advisor. 

Young consumers care about issues.

Surveys indicate younger generations prefer brands that demonstrate some degree of social responsibility. This could, for instance, take the form of a retailer that transparently engages in sustainable supply chain processes.

Making the right impression on young consumers requires making it clear your brand represents values they can get behind. How a fintech company can achieve this goal will vary, depending on the products and services it offers.

For example, as this blog has pointed out in the past, fintech products have helped members of traditionally underbanked and unbanked populations access financial services to a greater degree than ever before. They can obtain credit and debit cards that free them from the cash economy and give them more flexibility in how they use their money. Thus, fintech can help people in low-income communities strengthen their local economies.

This is the type of social benefit that fintech products can offer. As surveys indicate, young consumers are more likely to support such a product if the company emphasizes these benefits in its marketing and incorporates these concepts into its brand identity.

Influencer marketing works.

Effective marketing tactics have also shifted in recent years. Businesses that want to cater to Generation Z may have to change their strategies in order to keep up. One of the main marketing tips to keep in mind is that members of Generation Z are more likely than other cohorts to embrace products promoted by social media influencers. This type of marketing resonates with their desire for authenticity and individuality, as well as the fact that many of them have been on social media their entire lives.


It’s important to remember this when developing a marketing strategy for a fintech product for younger consumers. Of course, you can’t just randomly select a popular influencer to reach out to when planning a campaign. It’s important to find an influencer who could promote your product in a way that feels naturally tied to their personal brand.   

For example, some social media influencers use their platforms to show off their lavish, Internet-celebrity lifestyles. If you developed a fintech app designed to help young people manage their money more effectively, such an influencer could promote it by explaining that using the app helps them manage their money. And of course, Instagram and other platforms are crowded with fashion influencers—these individuals could also believably promote a fintech app that helps them budget for new clothes and accessories each month. This promotion would feel organic and genuine.

This brings up another point that’s important to keep in mind. Marketing experts point out that Generation Z consumers are less impressed with advertising that simply highlights a product’s features or lists its impressive specs. Instead, they want you to demonstrate the benefits and success your product can bring about in their lives.

Sorry, comments are closed for this post.