Youth Not Feeling "The Love" At Their Bank

I recently finished moderating some focus groups with 18-24 year old Edmontonians. Part of the discussion dealt with how they wanted to be treated by financial institutions in their city. In short no participant felt their current bank was matching the vision of service they wanted from their ideal bank.

So it made me wonder, do banks really value the younger clients, the clients that will be their most profitable in a few short years. This younger generation (gen-y) is as big and will be as powerful as the current dominant baby-boomer generation, yet they do not feel their specific needs are being met by their current bank. My forum did not allow for a deeper dialogue on the issue but it is clear if I was a bank or financial institution in Edmonton, I would be taking a serious look at my youth strategy going forward.