Gen Z consumers have garnered considerable recent attention as incumbents and newer platforms launch offerings to cater to this market, including: a new tie-up between Morgan Stanley and Gen Z banking platform Greenlight; U.K.-based Gen Z neobank gohenry rolled out direct deposit support for teens; and Gen Z neobank ZELF moved into gaming.

Why should we care?
Fintechs and incumbent financial companies are making a bet on the financial needs of customers whose needs will get more complex as they get older. For many of these companies, the objective is to create a relationship with the customer early in life, after which brands can suggest additional product offerings. In the case of Morgan Stanley, access to Greenlight’s tools will help clients’ children get interested in their financial lives early, with the goal to possibly transition them to other products down the road. Meanwhile, ZELF is allowing gamers to do their banking within social media platform Discord, including the possibility to trade virtual assets in games. "We are really excited that our technology will allow players worldwide to capitalize on their gaming skills, while providing a safe environment for buyers and sellers to trade virtual assets from their favorite games,” Elliot Goykhman, CEO of ZELF said in a statement.