Despite the growing economic importance of Generation Y customers, nearly a third of banks in Europe the Middle East and Africa have yet to establish an active, dedicated strategy for marketing to and serving them, according to research from Oracle Financial Services and Efma.
While advising vendors to promote Web 2.0 technologies that form the foundation of social media and other GenY favorites, we've often found greater traction from sales, marketing and other business functions in banks and financial institutions. They see the
value easily, often have budgets, and are not too worried about introducing a few point solutions that deliver high ROI but don't necessarily find favor with their central IT governance frameworks.
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