Here’s why Gen Zs and Millennials care so much about Fintech

Fintech is engaging Gen Zs and Millennials like traditional financial services never could. What have we seen so far and what else is to come?

A Millennial’s Diary
8 min readMar 22, 2021


If you walk around the internet streets it won’t be long till you hear about crypto, NFTs, GameStop, contactless payments etc. and I can bet it might be from a Gen Z (1996–2010) or Millennial (1980–1995).

Why? I believe this is largely driven by these generations desire to earn more, get things done easier and quicker, and overall challenge the status quo. Gen Zs and Millennials do not accept ‘let me take care of your money for you’ or ‘come into the branch to sort this out’. No.

Instead, Millennials lost trust in bankers, banking and the wider financial services sector post the financial crisis and Fintech became the perfect solution to the rebranding and transparency the industry needed. The rise of the iPhone and mobile apps gave birth to a new generation of customers who want more and want it now. Now Fintech enables Gen Zs and Millennials to manage their finances independently, largely without the interjection of a branch/wealth manager.

Fintech attracts Gen Zs and Millennials because it is built on transparency, ease and flexibility. Research estimates that Millennials are ~25% of the global population and Gen Zs are now the largest generation at 32% of the global population. Combined these generations contribute to around £264bn ($350bn) of spending power in the US alone, so no wonder all types of companies are keen to become digital-first and appeal to these demographics.

Let’s look at why Fintech has become so popular with these generations and what else we can expect to see in this space.

Why do Gen Zs and Millennials care so much about Fintech?

Fintech is… accessible

Unlike its predecessor, Fintech doesn’t pride itself on ambiguity and mystery. Consumer-facing Fintechs such as Revolut, Monzo and Starling are digital banks, which enticed customers with mobile-friendly experiences, 24/7 customer service and cheaper foreign exchange which is exactly what their digitally-native, always-on, nomadic customers craved. Although many incumbents have caught up, these Fintechs…



A Millennial’s Diary

Blog covering all things personal development and careers from a 20-something millennial working in Fintech