The Next Banking Generation: The Mobile Teen

April is Financial Literacy Month, and many organizations and financial institutions are providing information and tips to help consumers take the right steps on money management. One demographic driving numerous campaigns for Financial Literacy Month is the pre-teen and teen demographic, the next banking generation.

A recent infographic developed by Safely shines light on how frequently pre-teens and teens are using mobile devices; 75 percent of 12 – 17 year olds own a cell phone. These teens don’t just have phones to call home in case of emergency — they are heavy mobile users who talk about 835 minutes a month on their phones and receive/send an average of 1,200 texts a month. They are also heavy app users, with an average user downloading 11 apps a month.

As financial institutions and organizations help educate consumers for Financial Literacy Month, it is important to keep in mind the new financial generation is a generation that will approach finances with a mobile perspective. See below for the full information from Safely and more stats on the mobile teen:

How are you helping your financial institution’s youth? Tweet at @Bankingdotcom or let us know in the comments below.

Drew Brees Tackles Financial Literacy

Drew Brees discusses the importance of educating children and young adults about finance from an early age and previews the game: Financial Football. Financial Football, which is sponsored by Visa and the National Football League, is designed to teach financial concepts through an interactive game. Answering questions correctly moves your team up the field to score touchdowns. To watch the full video and see a demo of Financial Football click here.

As a financial institution, it is important to tap into the younger customers and members to jump-start their financial knowledge from an early age. What is your institution doing to educate children and young adults? Let us know in the comments section below.

Drew Brees on CBS News

Demo of Financial Football

Let Banking.com Help You Reach Your Customers and Members

Rightfully so, financial management and literacy is a topic on many financial services leaders’ minds today. It seems that there are many initiatives in the marketplace to help consumers and small businesses better understand financial matters — from printed brochures, to Websites, to large-scale events.

So, what are you doing to help educate consumers about their overall financial picture?

Banking.com is a resource to use to learn how to manage every facet of your customers’ and members’ financial lives. Educational tools provided on this site will help to improve your customers’ and members’ ability to manage their own finances while improving your operational efficiency at the same time.

It comes down to this: Customers and members of all ages are looking for better ways to manage their financial lives through a trusted partner – their financial institution. Financial institutions that help their customers and members see their entire financial picture will prosper in the future by creating a day-to-day online relationship and ultimately becoming their customers’ and members’ primary financial hub for all of their financial management needs.

And don’t forget about small businesses!

Small businesses generate $6 trillion in revenue each year. That’s equivalent to the second largest economy in the world. And since two-thirds of small business owners still use personal bank accounts for business, you won’t have to look far to find them. They’re already your customers and members. Don’t forget to think big about your small business strategy as well.

We’d appreciate your thoughts. Feel free to leave a comment and let us know how you are reaching and serving your customers and members.

What Goes On Your Credit Score?

During a segment on Good Morning America, Mellody Hobson discusses what affects consumers’ credit card scores. While this is common knowledge for FI’s, are your customers informed about how their financial habits are affecting their credit scores? Providing brochures and online information about credit scores will help your customers and members become more educated about how their day-to-day actions can affect their credit score.

Below, Mellody offers tips to help consumer effectively manage their credit scores.