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03/29/2017

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Baker Hill Discusses How to Increase Wallet Share with Generation that Has Most Spending Power: Millennials

Baker Hill Discusses How to Increase Wallet Share with Generation that Has Most Spending Power: Millennials

Leverage data analytics to deepen customer relationships with Millennials

WHAT: According to the U.S. Census Bureau, the Millennial generation is the largest in U.S. history. As Millennials accumulate wealth and lead increasingly complex financial lives, financial institutions will see more opportunities to engage Millennials and meet their financial needs.

However, the Millennial Disruption Index reveals that 71 percent of Millennials would rather go to the dentist than listen to what banks are saying, making it challenging for banks to reach this segment of consumers. Instead, financial institutions should realize that the financial needs of a 28-year-old Millennial are not drastically different than the needs of a Baby Boomer when they were 28 years old. The key differences between the Millennial and the Baby Boomer are the communication and technology used to satisfy their needs.

Demonstrating to Millennials that their needs are understood is about marketing to the right person, at the right time, with the right message, via the right channel, which can be achieved with a well-executed data analytics strategy. Naseer Nasim, CEO of Baker Hill, is available to discuss how financial institutions can leverage data analytics to deepen customer relationships, especially with Millennials, and increase wallet share.

Nasim can outline best practices for harnessing underused data and deploying an analytics-driven marketing approach, including:

  • Democratizing data analytics for all financial institution employees to use – marketers, CEOs and CFOs included;
  • Using marketing automation to communicate relevant information; and
  • Using return data to better target information and offers.

WHO: Naseer Nasim is CEO of Baker Hill, a leading provider of technology solutions for common loan origination, relationship management and smart data analytics. The company is the #1 provider of member business lending services, serving 600 financial institutions, including more than 20% of the top 150 U.S. banks and 20% of the top 25 U.S. credit unions.

CONTACT: To speak with Naseer Nasim, please contact Mallory Griffin at 678-781-7225 or mallory@williammills.com.

About Baker Hill
Baker Hill empowers financial institutions to work smarter and drive more profitable relationships. The company delivers solutions that streamline origination and portfolio management for business, consumer direct and indirect lending. Baker Hill also delivers sophisticated business intelligence and revenue enhancement solutions that support sound business decisions to mitigate risk and generate growth. Baker Hill is the #1 provider of member business lending services, serving 600 financial institutions, including more than 20% of the top 150 U.S. banks and 20% of the top 25 U.S. credit unions. For more information, visit www.bakerhill.com.

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