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Third of Baby Boomers prefer to bank online
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While half of Millennials bank online, only a third of Baby Boomers do.
Microsoft would like to help both sides of the generation gap with their banking needs.
It is introducing technology that it says will bridge the generations when it comes to online banking through its so-called "three screens and a cloud" strategy.
Microsoft engaged a KCR Research study of banking habits and found that different generational groups have very different preferences for conducting banking transactions. It released the study today.
Baby Boomers, said Microsoft, "are much more likely to prefer banking transactions in person at a branch (44 percent versus 32 percent), and half (50 percent) report that they never bank via the Web using a personal computer or phone browser."
For banks, according to Microsoft, Millennials represent an untapped online market, while Baby Boomers "vary from high-touch, in-person experiences at the branch to more automated experiences on the Web, on mobile phones or at interactive kiosks."
Microsoft announced it demonstrated technology at the BAI Retail Delivery Conference & Expo this week in Boston that showcases how different banking channels can be tied together.
The channels -- its "three screens and a cloud" -- are through online, in the branch, mobile phone and so-called "cloud software" all developed by Microsoft.
