Mitglieder der Generation Z als Abnehmer von Produkten des Retailbankings – eine theoretische und empirische Analyse unter besonderer Berücksichtigung von zukünftigen Hochschulabsolventen der Betriebswirtschaftslehre

This scientific work deals with the generational change in Germany. With a focus on Generation Z (age groups from approx. in the mid-1990s to about 2010) as young and partly future consumers of financial products and financialservices in German retail banking, attempts were made to give a possible prediction of future demand behaviour of this cohort.
With the help of compiled theoretical and empirical research results, a more precise typification of Generation Z could be achieved. Generation Z, known as Gen Z or digital natives, is an age cohort that has been and is mainly shaped by different digital technologies. She has a strong understanding of social responsibility, environmental protection and sustainability, as well as various forms of digital communication. As a result, it places specific demands on German retail banking.
Digitization is the basic prerequisite for communicating and interacting with these financial customers. This customer clientele wants detailed information about financial products regardless of location and time and would prefer to be able to access personal (digital) support around the clock.
It is also important that the financial service provider takes into account Gen Z's need for flexibility and individuality. Financial services and products are considered by Generation Z to be tailor-made financial solution models and should meet the individual preferences of each customer. Along with this, the communication between customer and financial service provider must meet this need for individuality.
It is important for financial institutions to develop a social and sustainable "footprint", in the sense of an ecological footprint, and to establish it in key social media.
There are noticeable gaps in Gen Z's knowledge of financial matters. In this regard, there is a need for financial training by the financial advisor. After all, Generation Z wants to make in-formed decisions and educate themselves at the same time.
Despite all these specific requirements of Generation Z for financial service providers, members have an increased cost awareness. On the one hand, they expect their financialinstitution to provide an extremely comprehensive range of information and make massive investments in digitization and personalized offers combined with personal advice, but on the other hand, they want to bear the lowest possible costs for their financial solution models. At the same time, possible costs must be transparent and fully disclosed.