Financial Insights That Matter
Gen Z is financially savvy and actively manages their finances
Gen Z demonstrates a proactive and strategic approach to managing their finances. 48% maintain multiple bank accounts, indicating a desire to segregate funds for different purposes. Furthermore, 44% actively explore various bank features, highlighting a generation keen on optimizing their financial tools.
A growing appetite for rewards and cashbacks
The survey also uncovers Gen Z’s payment preferences and cashback and rewards inclinations. Gen Z is driving the rise of UPI, with 68% using it for the ease and cashback perks. Credit cards are also a growing trend, with 46% choosing them for rewards and discounts, and 36% for sheer convenience.
Gap in engagement and financial education
Despite their digital prowess, Gen Z are not fully satisfied with the financial experiences available today. A significant 42% find UI/UX lacking, and only 7% trust bank representatives for advice.
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