When i got assigned to write about this topic, all i could think of is how everyone at work refers to me( me being the youngest one in my workplace) as “Gen Z”. So, this is from one (apparently) Gen Zer to the world, let me take you on a ride on what it’s like to be one!
First off who are Gen Z?
On paper, they’re people born between 1997 and 2012. Also known as “digital natives”, Gen Z are classified as the world’s most socially-focused, technologically-advanced, influential, social media-obsessed generation (yes spending hours scrolling through Tiktok or Instagram counts as obsessed). This generation doesn’t know what life is like without smartphones and easy access to the internet and worldwide communication.
Their favorite apps
Each generation has their stereotypes and this one is no exception. Gen Z are in a different kind of world with their own favorite apps that other generations have got no clue these apps even exist.
The most recent & trending app in Gen Z world is BeReal. BeReal is the “anti-Instagram app”, aiming for more genuine everyday posts, that offers no photo filters and alerts users to post a photo of their day at a random time every 24 hours. One can’t talk about Gen Z without mentioning Tiktok, the app that took over instagram. Gen Z now hop onto TikTok for everything in life from advice for nailing their first interview to furnishing their first apartments. Then comes instagram, Gen Z’s OG app, that no matter how much everyone says they don’t like it anymore, they all secretly do (i’m guilty of that too). Instagram is the app this generation kind of grew up on, and even turned it to a workplace with the birth of “social media influencers”.
Their favorite banking methods
In their fast-paced world, generation Z are keen to have banking services that fits around their lives, not the other way around. As the most technologically integrated generation ever, they will be looking for providers that can deliver a whole range of financial services, in one place, or they will be more than happy to find a different option elsewhere.
Something that’s mobile-first, that has the ability to pay on the go, can easily send money to friends and family all within one app. Simply a no hassle, no fuss approach to banking is Gen Z’s way to go.
It’s Gen Z’s world & we’re just living in it!
It’s safe to say that Gen Z is forcing us all to reimagine our digital future. Financial institutions need to step up in terms of how to serve the most financially savvy generations this world has seen by trying to better understand their patterns and behaviors.