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Episode #10: The Banking Habits of Gen Z

Episode 10

We know that the next generation wants fast, easy access to their bank accounts – and that they rarely, if ever, set food inside a physical bank branch. But aside from convenience, what other concerns does Gen Z have when it comes to their personal finances? We went to local universities to talk with students about their perspectives on digital banking, cryptocurrency, cybersecurity and how they envision the bank of their future. Sunrise Banks Chief Brand Officer Becca Hoeft and Chief Revenue Officer Bryan Toft sit in for David in this episode.

Becca Hoeft

As a marketing, public relations and corporate communications leader, Becca (only her mom calls her Rebecca) started her career in consulting and have been involved with six startups ranging from film, fashion, technology and food, with her first startup being a social enterprise importing leather fashion accessories made by single mothers in Nairobi, Kenya. Speaking across the country, she is known for leading award-winning teams and have received recognition from the Cannes Film Festival for Best Media Campaign, , Hermes, MSPBJ Women in Business, and most recently, the Top Women in Communications awards. When the day is done, you’ll find Becca behind a good travel book planning her next adventure, plunking a tune on the piano or laughing with her blended family.

Bryan Toft

Bryan Toft is Sunrise Banks’ Chief Revenue Officer. In this position, Bryan oversees commercial banking/lending, treasury management, mortgage and fintech partnerships. He has been with Sunrise Banks for more than a decade. From 2014-2017, he served as president and CEO of Community Bank Owatonna.

Bryan has held a variety of roles at Sunrise Banks including credit analyst, commercial loan officer and EVP regional manager of commercial lending in Minneapolis.

Bryan received a B.S. in Computer Science from Buena Vista University and an MBA from the University of St. Thomas. He is a board member of the Minneapolis Chamber of Commerce, Twin Cities Metro CDC and Charter School Property, Inc.

Featured Music

Holly Nelson

"Fire Can't Light"

Ages, Vol. 1
Listen Now

Episode Transcript

Hunter: [00:00:00] I guess, I don’t know of anyone who really likes brick and mortar banking, like going in and, doing all of that, and doing all of your banking in person. I’m sure they might exist, but yeah, I don’t know. I expect the online portion to grow just because of the convenience of it.

Becca Hoeft: [00:00:17] Hey there, welcome to the NextGen Banker podcast where we explore what’s next in banking and talk with the innovators responsible for creating positive change in the financial sector. So David Reiling, our usual host, is out, but you’re in for a treat. I’m Becca Hoeft, chief brand officer at Sunrise Banks. And I have my co-host and colleague, Bryan Toft with me, Bryan, what’s your title?

Bryan Toft: [00:00:40] Chief revenue officer here at Sunrise.

Becca Hoeft: [00:00:41] Awesome. Awesome.

Bryan Toft: [00:00:43] And we’re running the show a little bit different format today. We know banking is changing and consumers want quick and easy access to their accounts. Young people especially are igniting this change. So many college students today rarely enter a bank branch. In fact, some might never have conducted a transaction at a brick and mortar bank location.

Becca Hoeft: [00:01:01] And as we think about NextGen Banker and the next generation of consumers, we wanted to learn more about what young people are looking for in a bank these days and how they prefer to manage their financial lives. So we went out to a couple local universities to ask students what their thoughts were on personal finance.
And here’s what we found.

Bryan Toft: [00:01:21] One of the common threads we saw in these conversations, not surprisingly, was students want convenience in their banking services, who doesn’t right. Everyone we talked to uses a mobile app or online banking. And the first clip is from Hunter, a senior at Hamline University in St. Paul, Minnesota, who hasn’t been to a bank branch in years.

Hunter: [00:01:40] I do online. I usually do through my phone. Okay. Do you know the last time you’ve been in a branch? Three years ago? It was before COVID so probably three years ago, since college, but before COVID. Okay. Do you remember what you did in the branch?

I needed to get a new debit card. I think that’s what I was doing. I don’t know of anyone who really likes brick and mortar banking, like going in and doing all of that and doing all of your banking in person. I’m sure they might exist, but yeah, I don’t know. I expect the online portion to grow just because of the convenience of it.

Becca Hoeft: [00:02:14] You know, I had to laugh when I heard Hunter say, I don’t know anyone who actually enjoys going into a bank branch. Now, Bryan, you and I work for a bank. So when was the last time other than work that you went into a bank branch and why?

Bryan Toft: [00:02:30] Yeah, for me, it’s been a while. I, I tend to not do my transactions at a bank branch.

So I would probably say it’s been three months, at least. And during the pandemic much, much less than I normally would have for any kind of transaction. And I know our digital banking and online banking services have surged during the pandemic. And I think that’s the case at many banks across the country.

How about you, Becca? When’s the last time you were in?

Becca Hoeft: [00:02:57] Yeah, you know, I had to think about that as I was asking you. And I think it was when I refinanced my house and I had to get a money order check. And so it’s been, I think I refied right before the pandemic. So it’s been a little bit of time, but no, I primarily use my mobile phone for banking and I kind of like it.

Bryan Toft: [00:03:21] Yeah. And speaking of that, I mean, if you are using your mobile phone for banking, maybe you’re using it for transferring money as well. So what was your first mobile money movement app?

Becca Hoeft: [00:03:31] Oh gosh. Does Starbucks count?

Bryan Toft: [00:03:34] It does. You do move money to a coffee shop.

Becca Hoeft: [00:03:35] Yeah. I think it was well, no, I think it was my banking app actually.

But you know, PayPal kind of got in the space then Venmo and it kind of all took off from there. And then Starbucks, of course. How about you?

Bryan Toft: [00:03:47] Yeah, I think I had to use CashApp actually for the first time. When I was moving money, a friend of mine had it and I needed to pay him for something. So he said, just download that quick and you can pay me that way.

So it was really convenient. That was my first experience with a money movement app. Very hassle-free, very easy.

Becca Hoeft: [00:04:05] You know, and that’s interesting because I remember with my particular bank, I had to send money to a friend too. And I used my banks app. And this was probably about eight years ago and it was so cumbersome, you know, to move that.

And it had like all this verification process and it wasn’t intuitive. And that’s one of the things that I’ve noticed with like the Venmos of the world or cash apps or the world that it’s just, it’s so intuitive. It’s so easy. And it’s there you go, there goes the money

Bryan Toft: [00:04:37] Really seamless.

Becca Hoeft: [00:04:37] Yeah, totally. You know, I was looking at some studies and 2019 Morgan Stanley did a study and they found up to 80% of Gen Z smartphone users are engaged in mobile banking.

So I guess I’m with the trend, Bryan.

Bryan Toft: [00:04:51] Yeah, you definitely are. Another study that they did was NerdWallet and they said Gen Zers are content to do their banking completely online. Only one in five would rather use a brick and mortar bank for their everyday banking needs. So more than 80% would be, they want to do it all online. All mobile.

Becca Hoeft: [00:05:09] Yeah. So I guess that kind of begs the question, especially because you’re the chief revenue officer at Sunrise Banks and, you know, you manage that branch area and that experience. So should our goal is to get more people in the branch or what do you think the future is?

Bryan Toft: [00:05:27] Yeah, that’s really interesting, I would say that, well, probably 20 years ago, you know, there was like kind of common, you know, branch traffic, you know, people coming into the branch. And then not that long ago, maybe five years ago, I would say there was this push to say, well, how can we use these branches differently? Is it a coffee shop? Is it a coworking space?

What is it that we can draw people in so that they are still coming into the branch? And I feel like even now the pandemic has accelerated that even past kind of this dual-purpose branch and into sort of digital first, you know, and being like, we really do want to kind of use that, meet people where they are, you know, if people really don’t want to come to the branch would a coffee shop really help them want to come to the branch, or that’s just sort of that dual purpose instead, let’s really build out our digital offerings so that people really can experience that where they want to be anyway.

Becca Hoeft: [00:06:19] Yeah. Good point there. Well, I’m going to move on to our next student. This is Michael.

So while all the students we interviewed were partial to online banking, this was interesting. Not everyone was totally averse to branches, and this is where Michael comes into play. He’s another Hamline student. And he said he often goes to his branch when he’s at home in Brainerd, Minnesota. And for those who are not familiar with Brainerd, Brainerd is, a few hours, I guess I’m not from Minnesota, but I’m going to look to Bryan for help.

But I know Brainerd is north of here a couple of hours, and it’s pretty much in rural Minnesota. Okay, cool. Let’s hear Michael.

Michael: [00:07:00] I primarily do, because I’m here in the Twin Cities, away from my physical location, online banking, but when I’m in my hometown, I do in-person when I can. Yes.

Interviewer: [00:07:12] And then what kind of transactions do you do there?

Michael: [00:07:15] Typically deposits or transfers from my checking to my savings or my parents transfer money to my checking.

Becca Hoeft: [00:07:25] And at the same time, Michael made it clear that convenience is a necessity.

Michael: [00:07:32] In general, like on the surface, I say a bank institution shouldn’t change much over 20 years, although they should advance in technology I would say, because for instance, the bank I use does not have a, like a widely available app.

You have to get it through a very specific way. And then you have to be authorized and it’s a really long hassle. In fact, I didn’t do it until two or three years after being with that bank. So yeah, just advancements in their online presence.

Becca Hoeft: [00:08:10] So we just heard from Michael, and he’s said some pretty interesting things.

Let’s see. What did he say? He likes to do online banking. He gets frustrated or, you know, it was hard time accessing his banking app and that he likes going into the bank when he’s back up in Northern Minnesota in Brainerd. What do you think that means?

Bryan Toft: [00:08:32] Yeah, I think, you know, he’s trying to tell us that, you know, convenience and online banking is important, but just as important is that human interaction.

And actually we did have an article that we read recently, a Forbes article, that kind of came to the conclusion after a study of over 3,000 people that it’s not about going into the bank branch, it’s really about access to a human. So you want to be able to do those certain things you need to do online. But when you really have a problem where you really need to figure something out, getting access to somebody to talk to quickly and easily seems to be very, very important, which makes sense.

Becca Hoeft: [00:09:04] You know, one of the things this reminded me of the FinTech app that I use to manage my 401k, and one of the things that I love is, you know, I can chat with anyone and I see that person’s photo and their name.

Now, I don’t know if it’s really, you know, Susie with the blonde hair that I’m talking to, or if it’s someone else, but it makes me feel better that I’m actually, it feels like I’m talking to Susie, right?

Bryan Toft: [00:09:32] Yeah. One thing I’ll say about the pandemic is it’s made us a lot more comfortable with that kind of screen interaction, Zoom, Teams, whatever it is.

And I think everybody now probably be just as, okay jumping on something like that to ask advice as they would having to walk into a branch. And boy, that does save a lot of time.

Becca Hoeft: [00:09:47] You know, that’s really interesting. You talk about the pandemic because now we all have gotten used to Zoom or Teams or whatever your organization uses, you know, what have you seen banks do specifically around creating that digital experience?

Since maybe they couldn’t walk into the branch during the pandemic.

Bryan Toft: [00:10:07] Yeah. We have seen some, you know, banks spin up calendar type programs where someone can book an appointment online and that can then be a, you know, screen type of call where they can talk to a banker, just as they would as if they’re sitting in the branch.

So we’ve seen some of that technology come on. And then just, I think, like I said before, a general interest in, oh, I can’t really go to the bank anymore because it’s closed due to the pandemic. I better figure out another way to do this. And what options does the bank have? And so they’re, they’re calling, they’re emailing.

They’re asking how can I sign up for online banking or mobile deposit or whatever the service might be since they no longer have access to the branch and that’s really prompted, I think a rapid adoption of some of those technologies.

Becca Hoeft: [00:10:54] So I know Brian, you and I have chatted, like going into a bank isn’t something that we do on a regular basis.

That we select the times that we go in, for me, it was when I needed a money order. When I was refinancing my house for you, you had a different experience. So why do you think, or what opportunities or where do you see Gen Zers wanting to go into a bank? What are those times where that bank interaction is going to be critical.

Bryan Toft: [00:11:24] As we’ve done some research, it really does seem to be when big life events happen. So, marriage, going to college, buying a house, those kinds of things they need advice on. Should I take a loan for this? How do we consolidate our accounts? What is the best way, what are the options for a down payment on a house?

You know, those kinds of things, those aren’t things that are easily found online when you’re specifically, you know, working with a bank. So you want to talk to somebody and figure out the options and get advice. And that I think is where it seems to be going, which is you want to be able to do those simple transactions online, but when you really need advice, you know, I think you’re going to need to talk to somebody. Most likely it doesn’t necessarily have to be in person. Like we talked about, maybe it’s on a screen. But that advice piece is really important. That education is really important. And especially tailored to your specific situation.

Becca Hoeft: [00:12:12] Yeah. You know, you talking about that reminds me of a conversation I had with a young woman. She was, I would say late twenties. She was having, or building her small business on Etsy and her desire was to go national. And not just an Etsy, but in brick and mortar stores. And this was pre pandemic by the way.

And so I had asked her, well, what would you like to hear from a bank? And. And how to grow your business. I mean, do you need to learn about small business loans? What is it that you need to know? And she’s like, I don’t know. I guess if I had to ask my banker a question, I would just walk in, sit down and ask for a brochure and I’m like, okay, that’s one solution, right?

But what if as a value values-based bank, we connected you with another female, small business owner who already went through that surge of growth who could mentor and coach you. And I think one of the things too is, you know, as bankers, we’re not giving out financial advice, we’re giving education. And so how can we leverage our community to be able to help people to reach that next step in their financial wellness, whether it be an individual or a small business. So, Bryan, that makes me think of a question for you again, because you’re facing the public all the time. So as a banker, what opportunity do you see for banks as this next generation wants more finance help, especially as you talk about big life money moments like marriage, buying a car, a house, etc.

Bryan Toft: [00:13:52] Yeah. You, you mentioned the education part of it. No question. That’s a part of, and I think banks are trying to do a better job of educating their customers. Anything from, you know, those big money moments, small business, you mentioned even fraud. You know what to look out for, uh, with that. The other thing is just connection.

You mentioned what if we could introduce you to another small business owner that was in the same situation as you to get some advice and, to have her kind of eyes light up and go, wow, that would be great. Not even thinking of that. Well, there’s all kinds of a bank really is a connector, and other small business owners is one.

There’s also government resources that we track for small business there’s nonprofits that specialize in giving advice to a, to small business or even individuals. And a lot of times banks are aware of those resources, because they need to be because their customers are asking for certain things that maybe a bank can’t or doesn’t provide.

And so there are resources out there for those, those individuals to help. And I think as you mentioned, a values-based bank, that’s what they’re all about. Trying to figure out ways to help customers better and more efficiently so they can get where they’re trying to go.

Becca Hoeft: [00:14:57] You know, another thing that was interesting about these conversations is that while students definitely wanted, you know, that tech forward banking, you know, that, that app in their hand, they don’t always think of new technology as the end all be all.

In fact, some cautioned that too much tech could be dangerous. So this is Julia, another Hamline University student, and she was worried that having everything online could be risky.

Julia: [00:15:26] In the future, I think that there should be a big convenience factor for people just because that’s so important right now. And so it’ll probably be later.

However, I don’t think that it should be completely online because there’s a lot of mistakes that can happen online.

Interviewer: [00:15:40] And in terms of like, data being breached or what do you think?

Julia: [00:15:43] I think that it could be easier to like go online and try to like hack something, especially later in the future when we have more technological knowledge.

So I think that’s a big aspect that you have to look out for.

Becca Hoeft: [00:15:57] So, wow. Security and convenience, two themes that are really coming up in these university interviews. So, Bryan, what do you think this means for digital transformation in community banks?

Bryan Toft: [00:16:09] Yeah, I really liked what Julia had to say. It was actually somewhat surprising because, you know, she talked about, convenience versus that, that security. I think uh, it seems like, and I think we’ve read that Generation Z is really concerned about cybersecurity. I mean, their information is out there, but they don’t want to be too much out there. They, they do want that convenience without having to give up too much information. So I think community banks should be aware of that when thinking about digital transformation.

And that goes back to what we talked about before, some of the education around fraud and what they do with the customer’s information. That’s really important to a lot of people and community banks, and they’re trying to kind of reach into that kind of next step of digital transformation, security and convenience are definitely things that need to be balanced.

Becca, you know, one thing, about, you know, as we’ve done these kind of interviews and thinking about family and that kind of thing, and kids in college, you have a family with kids in their twenties. What do they say about this kind of technology?

Becca Hoeft: [00:17:08] Yeah. So my kids range from 21 to 28, we are a big, beautiful blended family.

And, I think it’s really interesting that as they get older, they’re becoming more aware of breaches and of fraud. And, the potential for technology to not be good. And so while I see on the younger side of my family, there’s not as much fear, but there’s not as much knowledge either as far as what’s been happening in the past or what has happened rather.

Um, so I really think, you know, again, you go back to the idea of education, and you go back to the idea of security and convenience. I think it goes back to ensuring that you know, an education around how this banking app is secure, what preventative measures are there, but also to your point, Bryan, that idea of having that human interaction creates trust, that if I were just to go out on an app and ask a chat bot, I’m not going to get that same level of trust.

Bryan Toft: [00:18:19] Yeah. There’s almost nothing worse than when you do have fraud or something happened to your account that you’re not sure what’s going on. Not being able to get ahold of someone is a very frustrating experience.

You know, and even some of the research backs this up, um, you know, Generation Z, uh, one, one study that we saw by IDEXX Biometrics says that 80%, almost 80% of 16 to 24 year olds believe banks need to do more to protect customers from fraud. In fact, even though they are the youngest consumers, an enormous 95% of this age group thinks banks need to increase fraud protection for their customers.

So it’s, it’s on their mind. They want to make sure that they’re safe online. And again, that goes back to they’re doing their transactions online, much, much more than any other generation before. And so they want to make sure that when they’re doing that, their information and their money is safe.

Joe, who’s a freshman at Macalester College in St. Paul conveyed a similar sentiment about being a little nervous about doing things online and kind of that online banking and fraud that we’ve been talking about. His concerns were specifically about crypto and even mentioned the stock market. Joe wasn’t so sure about cryptocurrency. In fact, it made him nervous.

Let’s listen.

Joe: [00:19:36] Even the stock market scares me. So cryptocurrency definitely scares me.

Interviewer: [00:19:41] Do you feel like you’ve don’t understand it or?

Joe: [00:19:43] Yeah, there’s a level of, I don’t understand it, but also like, I don’t know. It’s not tangible in a way, so.

Interviewer: [00:19:49] Not a physical currency.

Joe: [00:19:50] Yeah.

Bryan Toft: [00:19:52] So following up on some of the education we talked about Becca, fear of the unknown definitely seems to be something as a theme here.

Let’s go to the next one. Hunter, the first student we interviewed, he agrees.

Hunter: [00:20:04] I don’t think I understand cryptocurrency well enough to say that. It’ll probably stick around, I imagine. But yeah, I have it’s I think it’s really complicated and I have no idea if, I don’t know if we’re in a bubble right now.

I don’t know if it’s being valued accurately right now, or if it’s not. I have no idea.

Becca Hoeft: [00:20:25] You know, I find it really interesting. You’re right, Bryan, so this unknown, whether it’s buying their first house or it’s buying your first digital currency. Now have to tell you, I haven’t told a lot of people this, but I put a little bit of money, not a lot, into Coinbase earlier this year, or actually it was last year, man. Time goes by fast. But just to be able to learn about crypto, because I couldn’t understand it. And I was reading articles and, I was reading books and it wasn’t until I bought into digital currency that I started to understand it.

You know, of course I went through some gains and some losses, but that’s okay. It taught me to learn, and to understand it better. And what do we know about crypto is that it has grown exponentially since 2013.

Okay. So another thing I thought was interesting about Joe’s clip and about his thoughts on the future of banking, he said he doesn’t think banks have changed much since they were created and he doesn’t envision much change going forward. Take a listen.
I mean, yeah. And digital banks are already starting to be a thing, you know, ones that don’t even have physical branches. I don’t know in my opinion, banks haven’t really changed that much to begin with. So I’m not sure how much they’ll change in 20 years.

Interviewer: [00:21:47] And what do you mean by they haven’t changed much?

Joe: [00:21:49] I mean, the idea of a bank hasn’t changed in my opinion, at least, I don’t know. I’m not a big bank expert, but yeah. Just, I mean, it might find a way to make it more accessible and I guess that’s online now.

Becca Hoeft: [00:22:00] You know, I have to admit, I kind of laughed when I heard Joe’s statement about banks haven’t changed. What do you think about that?

Bryan Toft: [00:22:08] Yeah, I’d say fundamentally, there’s a lot of truth to that. You know, it’s, it’s a safe place to put your money, highly regulated and has been around a long, long time. But I think you maybe touched on it, access or how we look at banks and kind of the digital transformation we discussed earlier, that I think is changing rapidly.

And how quickly we can move our money, same-day ACH, those kinds of things. So again, banks probably haven’t fundamentally changed, but it does seem like there are things changing within banks. Definitely. And I think probably because banks haven’t changed fundamentally, it probably did have something to do with the birth of cryptocurrency.

You know, that’s really about decentralized finance and banks are all about centralized finance. So, you know, as it goes to crypto, that is definitely a disruption, in terms of banks. So. Yeah. What do you think about crypto Becca or the digitization of currency?

Becca Hoeft: [00:23:04] Yeah. You know, I’m kind of curious where it’ll go. I mentioned that I started dabbling in it and I’m starting to understand the construct of crypto, and digital currencies. But I don’t know how quickly banks will welcome crypto. I think there’s a lot of things that need to be figured out from the nuts and bolts. Although I just had, this was interesting, a friend of mine out in the Washington DC area who just bought his house solely with Bitcoin.

So. Yeah. And I, from what I understand, it was one of the first transactions ever, from a mortgage perspective, that Bitcoin was used. So I thought that was interesting. So I think, I think it’s a possible path, but if that path begins it’s going to be long because crypto is not easy necessarily to understand, but it also makes me think about some of the stats that we were reading Bryan around Gen Z and personal finance.

Because one of the things, you know, we heard about security. We heard about their fears. We heard about crypto, we heard about convenience. But one of the things that we were reading was that more than 41% of gen Zers feel anxious about their finances and 30% feel self-conscious about them. And I think you were telling me some stats the other day, too.

Bryan Toft: [00:24:29] Yeah, Becca. NerdWallet found that 52% of Gen Zers surveyed had written a check compared to 94% of baby boomers. What a huge differential that is. And in a survey from the Motley Fool, speaking of cryptocurrency, it was the third most popular type of investment among all respondents. And the second most likely to be held by Gen Z investors; 47% of Gen Z investors held cryptocurrency at the time of the survey compared to 39% of millennials.

So even though we heard from some of our Gen Z interviewees today that they were a little bit too nervous maybe to get into cryptocurrency, it’s happening, you know. Definitely people are looking to explore it at least and get into it and see where it goes. So there’s a lot we’ve talked about around crypto and banking and bank branches, and how we manage our money.

One thing I was wondering Becca is where did you learn about money management?

Becca: [00:25:25] Yeah, you know, so I grew up in Chicago and my dad was a small business owner, so my education around small business management was watching my mom do payroll every Friday, Thursday night, rather, watching my dad pay his bills.
And from there I learned how to balance my checkbook when there was such a thing. Right. And so, for me, it was observing my parents. How about you, Bryan? You, you had a dad as a banker.

Bryan Toft: [00:25:57] Yes. Dad as a banker. And, same as you — observing my parents, having them teach me how to manage money. We used to have two jars for each kid.

One was a savings jar. One was a spending jar and you always had to put some in the savings jar and some in the spending jar. And of course, then that savings jar got transferred to the bank, where it was into a savings account, but that’s really where I learned about money management. And I will say I never did have a personal finance or any kind of course in school that taught me about money management.

I think that is kind of a criticism of the school system is there isn’t a lot about money management in school. Maybe there is today, but when I went to school, I don’t recall that. Do you?

Becca Hoeft: [00:26:35] Yeah, no. I never had, and I went to a private school and never had the opportunity to learn, but what I know, what we do here in Minneapolis/ St. Paul, is we do specific outreach to schools and get them engaged from grade school, through high school. And to learn basic concepts around money and saving and paying your bills, et cetera.

Bryan Toft: [00:26:58] It’s such a big deal because if you don’t do it right from the start, it does take a while to come back from it. And you know, speaking of that, where do people learn about their finances? There was a Porter Novelli Cones Gen Z purpose study; 64% of Gen Z learn about their finances on YouTube. 63% learn on Instagram. So it is happening online. They’re going to find that education somewhere and quite frankly, I’m glad they are.

Wasn’t there a podcast guest we had, a YouTuber?

Becca Hoeft: [00:27:26] Yeah. Apple Crider. He was David Reiling’s very first NextGen Banker podcast guest. And he has a YouTube channel with over 17,000 followers, somewhere in the neighborhood of that. And he teaches basic constructs of money. And for him it’s about how, you know, Gen Z can grow their small business.

And it’s working.

Bryan Toft: [00:27:52] And if you’ve just started coming across the NextGen Banker podcast, I highly encourage you to go check out that first one. Apple is a really entertaining guy and check out his YouTube channel as well.

Hunter: [00:28:01] I love it. Love it. Well, man, this has been a great conversation. I think if I think about some of the things that I’ve learned from, you know, doing these interviews with these university students is that these voice of customer exercises, or in other words, talking to our customers or prospective customers can really teach us a lot.

And it could be something that we don’t expect to learn as well.

Bryan Toft: [00:28:31] Yeah. The other thing I think that we took from this was make sure that you’re providing as a banker, if you’re a banker listening, or if you work, you know, with a bank, providing that personalized experience for those big money life moments, wedding, car college, starting a small business.

We talked about that. Think of your bank as a connector, what resources can you utilize? And can you introduce people to, to help them along their financial journey.

Becca Hoeft: [00:28:55] Wow, Brian, this was a great conversation. Thanks for hanging out with me today.

Bryan Toft: [00:28:58] Yeah. Thanks, Becca. This was great.

David Reiling: For this episode’s musical feature, we’re showcasing Holly Nelson.

Holly is an award-winning singer and songwriter from Southern California. Holly’s music rewards the introspective listener with honest, personal expression through insightful lyrics and a soulful voice.

Here is “Fire Can’t Light,” by Holly Nelson.

(song plays)

That was “Fire Can’t Light,” by Holly Nelson. You can find more of Holly’s music at https://hollynelson.bandcamp.com/. If you would like your music featured on the NextGen Banker podcast, email Nextgenbankerpodcast@gmail.com with a link to your music and website.

Thanks for listening to the NextGen Banker podcast. We’ll see you soon.

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