The financial lives of Gen Z have been thrown into turmoil by the COVID-19 pandemic.
But there are ways that banks can help. Gen Z, born between the mid-90s and the early 2010s, became the largest generation back in 2019, and represent around one third of the global population.
From school and university shutdowns and quarantine to social distancing, debt and unemployment, Gen Z is coming of age in the midst of dramatic socio-economic turmoil. Financial services as an industry must remember that it is in a privileged position, holding significant power and ability to influence positively.
Why it matters
A burgeoning consumer demographic, Gen Z have been hit hard by COVID-19 with university closures, plus entry-level job losses, creating precarity for many young adults.
To read the rest of the report head here.