Episode Details

Checking accounts have become a commoditized product for banks. How can banks unlock a value creating growth engine and protect market share from new competitors such as neobanks? Using the Amazon strategy of bundling products through a subscription service feature might be the answer. Amazon is currently offering a checking account bundled with additional service for a monthly fee. Based on research conducted by Cornerstone Advisors, 37% of young millennials and 46% of old millennials would ditch their current bank to move to amazon. There is a willingness on the part of consumers to pay for a bundled checking account. However, it falls on Banks to create a value proposition for customers. Furthermore, Banks are really counting on Gen Z and millennials for growing deposits in 2026, but what are they looking for in a financial institution? This episode reviewed an article from Bank Director titled “Taking a page from Amazon’s playbook” and a blog post from PCBB titled “Deposit growth rebounds in 2026 – Led by younger generations.” Links to the article and blog post are included below.

Link: Taking a Page From Amazon’s Playbook | Bank Director

Link: Deposit Growth Rebounds in 2026 — Led by Younger Generations