IslamicFinance.de

Although uouth under the age of 25 represent the clients of tomorrow, many financial institutions steer clear from viewing youth as customers because it is difficult to serve them in a profitable manner. For financial service providers looking to offer savings products to young clients while still making a profit, there are factors at three levels that affect profitability: the market level, the institutional level, and the client-segment level. Ultimately, these three levels drive costs and revenues for FSPs. As more financial institutions begin to enter the youth savings market, it can be improved and augmented by data. The business case is dynamic and will evolve as more FSPs operate in competitive markets with long-term visions looking at the young people of today as tomorrow’s customers.