Financial Marketing and Millennials: By the Numbers

For financial institutions seeking to attract the millennial demographic, using technology is the key—especially technology that is optimized for mobile devices. Not convinced? Here are some mind-blowing statistics around millennials and mobile that you should know to influence your financial marketing strategy:

Financial marketers looking to engage millennials must leverage mobile technology as part of their financial marketing strategy.

Financial marketers focused on engaging millennials must leverage mobile technology as part of their financial marketing strategy.

  • Millennials (people between the ages of 18 and 34) have the highest rate of mobile usage of any other demographic.
  • A whopping 97% of millennials have used a mobile device to access online content. For 1/5 of millennials, mobile devices are the only way they access the Web.[1]
  • The average adult checks their phone 30 times a day. That sounds like a lot. But the average millennial checks their phone more than 150 times a day![2]
  • Does your website work well on all devices? Because 40% of people will abandon their first choice of a search result if it isn’t mobile friendly.[3]
  • Are your emails optimized for mobile, as well? We hope so, because 91% of people checking email on their phones will ignore marketing emails if they are not optimized or linking to pages that are mobile-friendly.[4]
  • When it comes to financial education, we here at EverFi found that 36% of our adult users used their phones to access our financial education content—in 2017 alone.
  • Does your bank or credit union offer financial education? Because millennials are 24% more likely than Baby Boomers to value financial education from their bank as an important feature.[5]

Taken together, these statistic make it clearer than ever: banks and credit unions that want to attract millennials should be focusing on providing a great mobile experience for this demographic.

For more information on how to connect with this “mobile generation,” download our new white paper, The Financial Marketer’s Guide to Acquiring Millennial Consumers Through Mobile.


[1] 2016 U.S. Cross-Platform Future in Focus. (n.d.). Retrieved December 16, 2016, from Insights/Presentations-and-Whitepapers/2016/2016-US-Cross-Platform-Future-in-Focus

[2] SMW Staff (2016). Millennials Check Their Phones More Than 157 Times Per Day | Social Media Week. Retrieved February 23, 2017, from

[3] De, D. (n.d.). Financial services in a mobile-fi rst world. Retrieved December 16, 2016, from wp-content/uploads/presentations/Financial_Services_In_a_Mobile_First_World.pdf

[4] Van Rije, J. (n.d.). The ultimate mobile email statistics overview. Retrieved December 16, 2016, from http://www.

[5] Study: Millennials Value Financial Education, Guidance and Mobile Account Access from Their Financial Services Providers. (2016). Retrieved December 16, 2016, from nancial-education-guidance-and-mobile-account-access-from-their-fi nancial-services-providers-300346661.html

4 Solutions to Reach Underbanked Communities

4 Solutions to Reach Underbanked Communities

For banks and financial institutions, engaging underbanked communities is key to spreading financial education and maintaining compliance under the Community Reinvestment Act (CRA). Fortunately, by leveraging technology and embracing the needs of students and young adults, reaching underbanked communities has never been more possible.

Download Guide: 4 Solutions to Reach Underbanked Communities

Download our free guidebook, Technology is the New Branch: 4 Solutions to Reach Underbanked Communities, and learn about the trends, statistics, and strategies that will help you better meet the financial needs of your community.

Here are four solutions for using financial education to connect with the underbanked:

  1. Go mobile. Mobile usage has skyrocketed over the last several years, but enacting a comprehensive mobile strategy for financial education is especially important for reaching people with low-to-moderate incomes. Since smartphones are less expensive than computers and can perform most of the same functions, many use them as their main source of technology.
  2. Scale with digital. To reach more people in a way that is both scalable and cost effective, embrace digital learning. By providing financial education programs online or through an app, more people can have access to the information they need.
  3. Break down language barriers. A 2014 study by the National Council of La Raza found that 33 percent of Spanish speakers selected their bank with language accessibility in mind. Offering financial education solutions in multiple languages helps eliminate these barriers.
  4. Think beyond credit scores. According to FICO, 53 million people—the majority of whom are millennials or low-to-moderate income households—don’t have a credit score, making this standard that banks and credit unions use to evaluate consumers problematic. Instead, certificates and test scores for financial education courses could be used to determine credit risks for underbanked populations.

Employing strategies to reach underbanked communities means the next generation will be more informed and confident about their financial decision-making—and these four solutions are a great place to start. Learn more about how your financial institution can better reach underbanked communities.

To learn more about EverFi, visit us at

The Future of Community Reinvestment Act Compliance

The Future of Community Reinvestment Act Compliance

Since Congress signed the Community Reinvestment Act (CRA) in 1977, financial institutions have had a legal obligation to provide banking access and education to communities—particularly underbanked communities—within their geographic footprint. That obligation has not changed over the years, but the communities, as well and the ways in which financial institutions meet their needs, has. This relationship will continue evolve alongside technology. Here’s what the CRA future has in store.

Download Our Guide the Evolving Bank Branch: A Look at Tomorrow’s Community, Technology, and CRA

Download Our Guide the Evolving Bank Branch: A Look at Tomorrow’s Community, Technology, and CRA


Streamlined evaluation process

Technology has offered companies unprecedented access to data—and that data is becoming easier to gather, sort, and transmit. This will allow for a much simpler evaluation process and, potentially, an automated data collection system that would make the reporting and compliance process easier and more transparent for both FIs and regulators.

Increased access to financial education

Financial education is crucial to successfully engaging with underbanked communities and helping young people become financially capable; for FIs, providing that education is becoming easier and more accessible as technology improves. Not only does greater education accessibility help FIs maintain CRA compliance, but as financial education service platforms become more personalized and customized, more data can be collected about individual learners. This will help FIs measure both the effectiveness of their programs and the financial wellness of their communities.

Greater focus on the the individual

Thanks to this increased ease of data collection, expect the requirements of the Community Reinvestment Act to become significantly more individualized in scope. With so much information about the individual available, it’s likely that financial capability will be determined by more than just a credit score. Instead, FIs can determine loan risks on a more individualized basis, allowing for a greater number of underbanked populations to qualify for services.

Data-driven processes and predictive analytics are already changing the playing field. In the future, expect these two factors to play an increased role in not only how CRA regulators evaluate compliance, but how FIs engage with the communities they serve as well.

To learn more about how FIs can meet and exceed Community Reinvestment Act requirements through technology and financial education, visit

Why Financial Institutions Should Care About Consumers’ Financial Literacy

In a world where banking relationships are becoming increasingly virtual, financial institutions are struggling to find new ways to connect with customers  and529plan 2 prevent the exodus of a new generation of tech-savvy consumers that’s growing in economic impact. While digital tools like mobile check deposit offer efficiency and convenience, they’ve also made banking relationships pretty transactional. The result? Customer loyalty is at an all-time low. In fact, more than 70% of millennial consumers say that they would likely bank with a revered tech brand like Apple, Google, or Amazon if they offered financial services.

Amidst rapidly changing consumer preferences, financial institutions are increasingly focused on finding new and better ways to grow customer relationships in the digital age. Forward-thinking institutions are shifting dollars away from traditional advertising toward a more transparent, education-based approach that resonates with today’s consumer. Digital education creates new touch points to strengthen relationships and educates consumers on financial services offerings, while also building credibility, trust, and loyalty.

A recent survey conducted by FICO found a correlation between higher financial literacy and better customer engagement, more use of financial services, and decreased likelihood to switch financial institutions. “Educating consumers, especially Millennials, about their financial rights makes good business sense,” said Anthony Sprauve, senior consumer credit specialist of FICO. “Basic financial literacy equips consumers with the knowledge and confidence they need to make responsible financial decisions at all stages of their lives.”

Leading companies are making financial education a core part of their business  providing prospects and customers with an open, transparent way to build their financial knowledge at every stage of life, whether it’s educating a first-time home buyer, helping customers grow their portfolio, or providing information on retirement resources. Consumers that engage with a company through education are actually 5 times more likely to make a purchase than those reached by direct marketing. Providing dedicated and relevant educational content is a powerful way to secure customer loyalty, sell new products, and meaningfully connect with a new generation of customers.

Learn how EverFi is helping financial institutions build customized consumer education programs

From Teacher to School Implementation Manager

I am lucky to spend the majority of my job with the people who undertake some of the most important work on the planet: teachers.

As an EverFi implementation manager, my role is to support teachers’ instruction, and enhance student engagement and achievement through EverFi’s digital curricula. I have the opportunity to work with district and school leadership, along with teachers, on a daily basis to ensure smooth adoption of our learning courses. This includes collaborating with educators to determine placement for our curricula, training teachers to use our resources, assisting with classroom implementation and providing support. As a former educator, I know that teaching entails so much more than what meets the eye. Being an implementation manager enables me to help teachers innovate in their classrooms in a way that allows them to focus their time and energy on what matters the most – students.

oak hill vaultIt is truly my passion and privilege to bring EverFi’s courses to students in my hometown of Jacksonville, Florida. Some of the amazing educators I work with include my former teachers, colleagues and friends – I even work with my own former students. Whether it’s teaching a high school senior about paying for college or changing a middle schooler’s mind about cyberbulling, EverFi’s lessons address some of the most pressing needs in today’s classrooms. When part of a teacher’s repertoire, EverFi has the ability to impact the lives of kids who will shape our community for the better.

I recently worked with Michelle Harcourt, who oversees the Fresh Futures summer youth employment program for students from low-income families. Students complete EverFi – Financial Literacy alongside their summer jobs so that while they are earning money, they are learning how to be financially responsible. One student recognized that her mom would benefit from the course, so she decided to go through it with her. Now they talk about money as a family, something they never did before. 

Implementation managers also have the opportunity to engage with community partners regarding the sponsorship of our courses. By bringing EverFi to teachers and students, I help bridge partnerships between them and the generous sponsors who have a stake in the health and success of schools.

From a sponsor meeting in an office with a skyline view, to a school’s tiny computer lab full of 4thgraders, no two days as an implementation manager are ever the same. What does remain constant is that I am always challenged, humbled and completely connected to the work and mission of EverFi – impacting the lives of students.

Learn more about becoming a Schools Implementation Manager at EverFi.