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About the authors
Written by
Cahn Tran Co-founder & CEO

Canh Tran is the co-founder and CEO of Rippleshot, an AI-based fraud prevention platform that helps over 1,700 financial institutions proactively manage risk and prevent fraud through AI-based rapid risk detection. He and his team continue to push the limits of artificial intelligence to build the next generation of fraud tools to help financial institutions become strategically resilient. He has an MBA from Northwestern and a B.S. from the University of Maryland.

Cahn Tran
Co-founder & CEO

Generation Z, people roughly between the age of 12 and 28, is rapidly becoming one of the most influential consumer groups in financial services. They are estimated to represent 31% of the workforce and 40% of consumers worldwide. 

As digitally native, value-driven and highly selective customers, they expect banking experiences that mirror the best of today’s tech platforms: instant, personalized, transparent and secure.

Gen Z grew up with smartphones in hand — they expect banking to be instant, intuitive and mobile-first. Eighty-three percent use digital platforms to check balances and 81% for payments and transfers  

Fifty-four percent of Gen Z rely primarily on non-traditional financial services providers for their banking needs. Only 2% are community bank customers, according to The Harris Poll. Yet, according to The Harris Poll, 52% of Gen Z and Millennials say they are willing to switch to a community bank if the bank meets its needs and values.

Gen Z has also expressed a significant interest in artificial intelligence (AI). A generation that grew up with TikTok and other social media algorithms expect hyper personalized engagement that is trusted, immediate and inclusive.

Community banks can leverage AI as a key enabler to meet and monetize these expectations. AI is not a feature — it’s a competitive necessity for capturing the Gen Z market. Banks that deploy AI strategically across personalization, fraud, education, support and lending will gain a decisive advantage in attracting and retaining this generation.

Expectations What They Value How AI Can Help

Personalized digital engagement.

  • Real-time recommendations based on financial behavior.

  • Proactive alerts to prevent overdrafts and overspending.

  • Tailored products for credit, savings and investments.

AI-enabled chatbots that deliver hyper personalized, emotionally intelligent, predictive and real-time recommendations and insights.

Advanced fraud protection.

  • Real-time anomaly detection that catches fraud earlier.

  • Behavioral biometrics to prevent account takeover.

  • Intelligent rule optimization that reduces false positives

AI and machine learning tools that recognize deep fakes, social engineering scams and nonobvious patterns more accurately and faster.

Financial education and coaching.

  • In-app financial coaching.

  • Personalized money insights and next-best action prompts.

  • Clear explanations of credit, feeds and financial decisions.

AI-enabled advice and insights that are more tailored, omnichannel and data driven.

Conversational support.

  • Intelligent chatbots that resolve common issues instantly.

  • Smart handoff to human agents when needed.

  • Natural-language questions and answers for product explanations and financial guidance.

AI chatbots that are available instantly, 24/7 and are pro-active, personalized and regulatory compliant.

Fair and inclusive lending.

  • Cash flow-based and behavior-based underwriting.

  • Faster credit decisions.

  • Risk models that expand access with early stage borrowers.

AI-based models analyzing alternative data, that make decisions faster, while improving accuracy and inclusiveness.

 

WRITTEN BY

Cahn Tran

Co-founder & CEO

Canh Tran is the co-founder and CEO of Rippleshot, an AI-based fraud prevention platform that helps over 1,700 financial institutions proactively manage risk and prevent fraud through AI-based rapid risk detection. He and his team continue to push the limits of artificial intelligence to build the next generation of fraud tools to help financial institutions become strategically resilient. He has an MBA from Northwestern and a B.S. from the University of Maryland.