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Next-generation youth banking using cards & apps blows away the old

first_imgA growing number of fintechs and banking startups in the U.S. and other countries is targeting Generation Z, and even reaching into the younger Generation Alpha, children born after 2006.In the U.S., roughly 25% of the population is under 19. In Europe teenagers and younger kids comprise around 20% of the population. This represents a tremendous market, but typically incumbent banks don’t aim many products and services at Gen Z because they aren’t currently profitable. This contrasts with more financially mature Millennials.Newcomers are outflanking incumbents. The legacy institutions’ lack of interest created a two-fold market niche for challenger banks and fintechs: serving the current “pocket money” needs of young people and building the loyalty of today’s youngest customers for the coming years.73% of American parents provide a regular allowance to their children, a total of $41 billion per year, according to RoosterMoney’s Kids Allowance Report. Part of pocket money is earned from domestic chores. Parents say their goal is to teach children about financial literacy, involve them in useful activities and help them to form healthy spending habits. The parents lived through the Great Recession and want to inculcate thrift. Indeed, in comparison to older generations, Gen Zers tend to save almost as much as they tend to spend right away. When they spend, it’s typically on food — mostly sweets, eating out, video games, toys and books. Most Gen Z consumers prefer in-store shopping rather than ecommerce. However, the older they grow, the more online transactions they make. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Forward Taurean Thompson has reportedly withdrawn from Syracuse

first_imgUPDATED: Aug. 28, 2017 at 2:38 p.m.Forward Taurean Thompson has reportedly withdrawn from Syracuse and “likely won’t be back,” according to Donna Ditota of Syracuse.com.“We have been informed that Taurean is taking a leave of absence from Syracuse University,” SU head coach Jim Boeheim said in a statement to Syracuse.com. “My understanding is he wants to go to school closer to home due to some family health issues.”Summer-long rumors speculated something like this would happen, Ditota reported. She wrote that Thompson did not attend summer classes, “unusual though not unprecedented.” That Thompson was rumored to maybe transfer from SU or pursue a professional career. That Thompson has not responded to messages and invitations from teammates over the summer.Thompson’s two high school coaches, Bob Hurley at St. Anthony (New Jersey) High School and Jason Smith at Brewster (New Hampshire) Academy, both told The Daily Orange that they had not heard from him in months.AdvertisementThis is placeholder textThompson attended a closing ceremony for St. Anthony in May, Hurley said, and at that time everything seemed “normal. School and everything seemed good.” Jessica Sheldon | Staff PhotographerLast season, Thompson averaged 9.2 points and 3.8 rebounds per game. He shot 54.6 percent from the field while playing 17.9 minutes per game. He scored well, but struggled with foul trouble and learning the Orange’s 2-3 zone defense. Thompson rotated in at center.Now, at that position, Syracuse has only Paschal Chukwu, the 7-foot-2 Providence, Rhode Island transfer who missed most of last season after eye surgery, and Bourama Sidibe, an incoming freshman. Comments Facebook Twitter Google+ Published on August 28, 2017 at 1:40 pm Contact Sam: sjfortie@syr.edu | @Sam4TRlast_img read more