Move over X-er's there is a new target market coming onto the scene. Institutions today are starting to realize that they need to focus their marketing efforts towards the Y generation. The nations 18 to 25 year olds, also know as generation Y are living at the forefront of a fast paced world connected by technology. Studies have shown that there are nearly 60 million gen yers living in the U.S. Baby boomers number some 75 million which makes this new generation the closest rival to the baby boomers. "Banks are really just starting to notice of how important this demographic is, and now the question is what are we going to do about it." said Steve Williams, a principal with the Arizona based bank consulting firm Cornerstone Advisors.
82% of the 18 to 24 year olds in the United States use the internet everyday that percentage jumps to 85% with 25 to 29 year olds. This is according to 2005 Pew Internet and American Life Project study about teen and adult online habits. A trend that we are noticing at uMonitor is the increasing volume of financial institutions attracting college students is becoming the most effective way to penetrate the Y market. Large institutions such as Wachovia are partnering with colleges around the county to build on-campus branches which offer unique products such as identity cards doubling as ATM cards. Other institutions have begun to follow the footsteps of Wachovia but only a select few. What can you do to attract the next generation?

With uMonitor's online account opening and funding solution you institution can capitalize on your fair share of the market. New students will be able to visit your website to open new accounts in a secure real-time environment and fund them from outside accounts. Students are not the only ones to benefit from this solution, parents can too! Imagine parents today being able to open that next ATM account conveniently located at or near campus, monitor their accounts and their own under a single view with one user name and password, and move money to those accounts recurring every month with funds transfer through ACH. uMonitor can help accomplish this with our suite of products.

uMonitor provides solutions to help your institution be fast, secure, convenient, and available to all your existing and potential customers regardless of their situation. The more options you offer, the more likely you are going to obtain solid, profitable relationships for a longer period of time. We will work with your institution to create solutions that are unique only to you and your market. With the automation of your workflow online, not only will your customer benefit, but also the staff on the back end. They can focus on what’s important and that’s building relationships and selling.

To learn more about the uMonitor New Account Setup and Online Funding with Switch Kit solution and other innovative financial technologies such as Account-to-Account Funds Transfer Service to move your money, call 901.757.1212 to speak with a uMonitor representative today or visit www.umonitor.com.