The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding Gen-Z banking content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.
Gen Z is often seen as highly connected to technology with their desire for personal connection overlooked. Data suggests that their desire for connection may be stronger than many realize.
Recent research reveals that among Gen-Z respondents, 57% expressed feeling isolated, lonely, and disconnected from relationships, with half saying that they wish major social platforms didn’t exist.1
The complicated nature of reality strikes again, revealing a generation of digital natives who in fact deeply desire personal connection.
What does this have to do with your financial institution? Everything, when you consider that:
- Gen Z’s global spending power will reach $12 trillion over the next five years.1
- By 2030—just four years from now—Gen Z will comprise nearly a third of the U.S. workforce.1
- Roughly 4 million Gen Zers will open new bank accounts annually through 2026.1
- Over the next two decades, Gen Z will collect on an $85 trillion intergenerational wealth transfer.1
Gen Zers are approaching their prime earning, spending, and borrowing years. As their financial influence continues to accelerate, it’s increasingly imperative for institutions that want to maintain growth to prioritize these relationships. Doing so requires developing a loyalty-building strategy balancing this generation’s digital proficiency and need for in-person connections.
The key to winning Gen-Z banking trust
Loyalty may seem more difficult to achieve in a market brimming with competition and diversification of assets. Over half of Gen Z consumers spread their money across several institutions, with digital-only providers taking 44% of new checking accounts in 2024.2 Yet, 80% of Gen Z still chose a bank or credit union as their primary institution.1
Beneath these dynamics lies a more fundamental driver of behavior: confidence. While half of Gen Z are optimistic about their financial future, over a third find financial topics confusing and overwhelming.1 This “confidence gap,” is driving many young consumers to physical branches for guidance on major financial decisions. A quarter of all consumers under age 44 turn to in-person advisors for key milestones.1
In these senses, the physical branch has become a place for advice, growth, and relationship building, while digital channels remain preferred for simple transactions.
In fact, when it comes to managing finances, the study found that Gen Z’s top three requests are, in order of importance:1
- Access to human support
- Seamless mobile experiences
- Budgeting and savings tools
Yes, you read that correctly. The first generation of true digital natives places more emphasis on people than digital experience. The truth is that they want the best of both worlds: a smooth, mobile-optimized digital experience for everyday management and support from real people available to lend their expertise when needed.
Ensuring that your institution consistently delivers that value, across all engagement channels is the real key here. For example, 76% of Gen-Z banking consumers acted on personalized recommendations they received in-branch. Despite this strong response, only 42% report ever receiving in-branch guidance1, revealing a major missed opportunity to deliver high-value, support.
If you can’t, or simply don’t, support Gen Zers, then they’ll find an institution that will—20% of Gen-Z consumers are likely to switch primary institutions within the next six months.1 When you do cater to their needs, this generation overwhelmingly responds with interest and deeper engagement.
So, the challenge here isn’t choosing between digital convenience and human support; it’s connecting the two.
This is where our lending made human philosophy and the platform making it possible comes in
MeridianLink® One brings together digital account opening, lending, data analytics, and engagement tools into a single, integrated platform designed to support how consumers expect to bank and your institution needs to grow.
It begins with smooth, omnichannel applications. AI-powered workflows, intelligent data insights, and tools like autofill and eDocument upload make it faster and easier for consumers to apply—on any device, at any time. And with consistent design across mobile, web, and in-branch channels, the experience always feels familiar.
When support is needed, the journey continues, not resets. With save-and-resume functionality, consumers can move effortlessly between digital and in-person channels, picking up exactly where they left off with a human advisor when needed.
Behind the scenes, intelligent decisioning and automation help institutions deliver faster approvals for qualified borrowers while maintaining strong risk control. While connected data across systems and trusted partners enable more personalized offers, more relevant financial guidance, and more meaningful engagement at scale.
And because trust is foundational to every interaction, integrated fraud protection, identity verification, and compliance tools help ensure the entire experience remains secure from start to finish.
That’s the power behind MeridianLink One: helping financial institutions deliver the digital convenience consumers expect, with the trusted guidance and support that builds long-term relationships.
1. “Winning Gen Z: A Data-Driven Brand-to-Brand Playbook for Financial Leaders,” Adrenaline, 2026; https://www.adrenalinex.com/app/uploads/2026/02/ADR_GenZ_Report-2026.pdf
2. “Why Fintechs Are Beating the Banks in New Checking Accounts,” Forbes, 2025; https://www.forbes.com/sites/ronshevlin/2025/01/06/why-fintechs-are-beating-the-banks-in-new-checking-accounts/
