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The Next Credit Union Market: Millennial-Led SMBs

What services will millennial business owners purchase from their credit union? Not the traditional ones, as it turns out.

By Michael Abare | September 21, 2020 at 12:25 PM
Small business owner Source: Shutterstock

Traditional financial institutions are recognizing the lucrative opportunity in the small business market, but they may be unprepared to engage with millennial-led small- to medium-sized businesses (SMBs). This up and coming generation of business leaders represents one of the most diverse generations in American history, and their digital preferences will drive an evolution in technology transformation across industries.

The lack of commercial platform capabilities at community financial institutions, however, is leaving a hole in the revenue generation strategies of traditional financial institutions – and it’s big enough to drive a truck through.

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