The demand for financing services has changed, the generation of the last 20-30 years has new expectations and we have had to adapt to stay in the game.
The economic world has also evolved thanks to new technological tools and the adoption of new laws that better protect the borrower and regulate the creditor's activities.
Let's take a look at what Generations Y and Z expect
Let's focus on the attributes of Millennials. They have grown up in the age of technological and digital development.
They are therefore comfortable using the various digital tools available to them effectively.
Much better than the old crouton who writes this article anyway!
Millennials place a high value on work-life balance. So they're looking for a flexible environment.
They are in pursuit of meaning, a purpose to their commitment to work.
This is why Millennials will be more inclined to find innovative solutions that meet their commitment (social or environmental) and develop it, particularly within so-called 'responsible' organisations or companies.
They hope that their work will have a purpose, they expect recognition from others, and they rely heavily on feedback, i.e. they appreciate regular feedback that provides recognition to their work.
What exactly are they waiting for?
They are looking for jobs that offer flexible hours and therefore the possibility of travelling more frequently, or having leisure activities on top of that.
For a lower number of working hours, even if it means having a less attractive salary.
They want access to modern technology, to accomplish their tasks efficiently, whether it's the latest smartphone or laptop with new features.
They want to have open, transparent and respectful communication.
They want privileged access to health care and benefits such as paid time off, a well-functioning pension plan and health insurance.
Flexibility, technology, communication, transparency, respect, privileges... So many words that take on their full meaning in a commercial offer that aims to be modern and attractive. Just like the manufacturer of the latest smartphone, credit players must therefore stay up to date. The same goes for banks, which are often seen as outdated or out of touch with reality.
Cumbersome processes, 'old school' marketing, insufficient quality of reception and advice, a lack of tailor-made solutions, digital tools that are tedious to use...
What about Gen Z?
She also grew up with digital technology, is comfortable with tools such as social media and wants instant access to information online.
They are autonomous and independent.
This generation has faced various economic changes and experienced periods of uncertainty. It is therefore more pragmatic and realistic with regard to the financial world as a whole.
Like Millennials, Generation Z is driven by strong values that support environmental and social causes. They demand that the companies they work for share their values and that their actions have the same purpose. It's the same for their vision of the role of a bank...
What are they waiting for?
Like Millennials, they are looking for jobs that are flexible in terms of hours and location.
They demand state-of-the-art technology, to stay up-to-date with the latest innovations.
They expect transparency and responsiveness from companies.
They want to be autonomous so that they can positively influence the results.
Like millennials, they are looking for life experiences and want to engage in work that will have a positive impact on the world around them.
In general, Generations Y and Z have grown up in a similar environment and therefore have the same attributes and expectations: on advanced technology, need autonomy in decision-making, they are looking for jobs with flexible hours and want transparent and clear communication.
Autonomy, clarity, advantages, access to information... There are other needs in addition to the expectations of a seamless user experience, regardless of the sector, including the financing of personal projects.
For older readers, no, these aren't unrealistic or overly restrictive expectations.
Let's face it, our young people may be more demanding than we used to be, it's true. They are more expressive and direct in their communication, that's true too.
But after all, aren't they right to be?
What are we doing to meet these expectations?
Milena offers opportunities to its clients to undertake and carry out their projects.
Even for young people who are just starting out in working life? And why not?
By using a loan, a millennial can undertake a project based on their values such as environmental advocacy.
Another can launch their digital start-up by taking out a personal loan or entrepreneur loan.
Another can finance their higher education.
Still another can carry out an associative project.
Milenia aims to make life easier for its customers, all generations combined:
Autonomy: the credit formula can be tailor-made according to your needs and you can always withdraw 2 weeks after signing your loan contract.
If you want to use state-of-the-art technology to communicate, so much the better since Milena has digitized all its procedures, you can compare with Milenia's online simulator tool and reach your advisor via WhatsApp.
Do you want responsiveness and transparency? This is a double chance since within 24 hours you will receive a response to your request. This response will be clear and transparent.
Free! Don't want to pay administrative fees? That's a good thing because Milenia doesn't charge an application fee.
More flexibility? No problem. Milenia adapts to you and accompanies you, to support you in your efforts.
You want to be recognized and respected. That's the least we can do. While these values are imprinted in our DNA, you are also protected by consumer credit law.
Milenia, the leading credit player in Switzerland, offers a financial service adapted to the needs of its customers, all its customers!
You can start your process using our online services with great ease, everything has been put together to simplify your task.
We offer a seamless, flexible user experience and solutions to make your projects a reality.
This, while applying an information and data security policy that is strict and reliable.
We describe ourselves as a partner of excellence for all our loyal customers, regardless of their generational background.
In this case, it's no longer a question of whether you're millennial or Gen Z.
The question is whether you care about your dreams, whether you still have faith in your plans. Whatever the idea, our goal is to support you in making it happen!
