Banking in the recent times has evolved beyond the realms of transactions, thanks mainly to the millennials, those that were born between year 1980 and 2000. However, the biggest challenge many financial institutions particularly mid-tier banks face is that they are content with the status quo. They do not realize the need to adopt technologies and are moving very slowly, to a point where they risk becoming relevant. This paper visits the banking landscape and highlights how banks need to transform to be relevant,

1. DIGITAL BANKING IN
THE MILLENNIAL ERA
Dileep Srinivasan
Founding Partner at Powerfluence LLC,
Chief Digital Strategist at Marlabs Inc.

2. MILLENNIALS ARE REDEFINING THE
EXISTENCE OF BANKS
 Banking in the recent times has evolved beyond the
realm of transactions, thanks mainly to the Millennials

3. THE MILLENNIAL POWER HAS
CHANGED THE INDUSTRY LANDSCAPE
 Millennials command tremendous attention for three reasons
 First, they are digital savvy and use mobile as their primary channel to
the world of banking, retail, communicating with everyone and most
important transacting cash.
 Second, a study by the American Bankers Association projects that
by year 2022, millennials will constitute over 40% of the workforce.
 Finally, it is predicted that over the next 30 years they are likely to
inherit over $20 Trillion.

4. BANKING INDUSTRY
LANDSCAPE
• The Banking industry along with
Fintech has evolved to incorporate
Digital technology into its business
products, services, processes, and
operations.
• A few, well-financed major players,
have led the way with innovative
Digital banking options for
customers.
• But, even fewer banks seem to have
got the concept of ‘The Digital Bank ‘
right.

5. ITS IMPERATIVE FOR BANKS TO TRANSFORM

6. FUNDAMENTAL TO BANKING SUCCESS

7. HTTPS://WWW.POWERFLUENCE.COM/EXPLORE
 Download the white paper which further addresses;
❖ The five Vectors crucial to transformation
❖ The future of bank branches
❖ 5-step PowerSpark methodology

8. THANK YOU
Dileep Srinivasan
Founding Partner
Powerfluence LLC
marketing @powerfluence.com
www.powerfluence.com