As a millennial I can clearly relate with some of the study’s conclusions. The truth is that we have no idea about finances. And we usually don’t know how to interact with a bank or even worst if the bank we have chosen is the right one. We usually make our financial decisions based on recommendations from someone close who had a good experience with certain product or entity.

But what I can really relate to is the lack of trust to banks or operators. I believe that the problem lays in a sketchy and often too formal communication. Which we don’t understand and always seems to have a secret condition or small letter that plots against us. For me, the secret recipe for such an important product is a Clear & transparent Communication.

brief parenthesis ()
You may have heard of a new mobile company called “Pepephone”. 
-Pepewho??...🤔

Yes, pepephone is a new mobile operator that is competing against the industry giants such as Orange, Telefonica & Yoigo. 
Now, nothing about pepephone is pretty or sophisticated. However the way they communicate their brand purpose and culture, has gotten them to increase their stock value from 25€ to 80€ in less than a year .

Pepephone’s purpose is to differentiate their product from the competitions by establishing a humane brand which speaks a language that we understand. Here’s a message from the day after pepephone’s system crashed.

Communication as a disruptive brand element.
A clear & bluntly communication. We tell you what you need to know in a clear and brief way.

Formal communication (Contracts )
It is known that people don’t usually read large documents or contracts. 

So how do we solve this problem? 
What about if instead of sending a 10 pages contract, we send a brief document that clarifies in a language that the user understands what he really need to know. And of course we give him the choice of reading the brief contract or the 10 pages.

Products acquisition 
Hold it right there ✋, what about if instead of telling me about the free tv I’m getting. You tell me about the interest rate & how much will I have to pay for the product every year.

Hacking the banks
Taking into consideration that one of the mayor problems of the market group that we’re trying to approach is the lack of knowledge about finance.

What if we try to educate them? And tell them tips that they can really use, for example : (https://www.google.es/amp/s/amp.businessinsider.com/banking-tips-for-20-somethings-2014-5)

• Know the fees associated to your account 
• Your purchasing habits are stored.
• Limit the amount of transfers you make
• Save, save, save!
• Check your checks.