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In 2001, American education speaker and author, Marc Prensky, popularized the terms “digital native” and “digital immigrant” in an article titled “On the Horizon.” In his article, Marc relates the contemporary decline in American education to educators’ failure to understand the needs of modern students. He argued that the sudden fusion of technology into all aspects of society had directly impacted the way students thought and learned and that because of this change, the students were struggling to process information and excel academically due to the use of outdated teaching methods.

Now, several years later, those same young adults are entering the workforce and investing in their futures leaving businesses in a search for the best way to attract the world’s first group of digital natives. As teaching methods needed to be revamped to fit this demographic’s needs so does the consumer markets approach of appealing to this group.

As the complete digitization of the banking sector rapidly increases, many fintech start-up companies have realized a new opportunity. Since conventional banking and investment avenues are no longer attracting millennials, fintech companies have taken steps to employ more advanced mobile apps and start a process of phasing out human financial advisors with robo-advisors. The efforts are taking place in hopes of maintaining a competitive edge in a market that has evolved into a more progressive and open-minded view.  Valuing transparency and convenience, millennials expect to have personalized service and products at their fingertips whenever they need it. With the use of advanced automation and AI technology, fintech has transformed into a hands-on and user-friendly field.

This technology has been declared not only successful but also appealing to the most technologically-tuned societal group — millennials. These new investment services for the emerging generation takes away the human factor in analyzation and offers a completely transparent approach. Using machine learning, artificial intelligence, and big data to recommend investments, the new robo-advisors elect the best possible investment opportunities for the new-age investors.

Given the increased familiarity and use of media and digital technologies among millennials, these products and services are being marketed online. Reflecting the different preferences and expectations of this new generation, the marketing patterns of fintech corporations are utilizing multi-channel access for newly available financial products.

This new consumer trend is on-course to completely alter banking and investment avenues as 46% of all income generated (totalling nearly $7 trillion in liquid assets) in the U.S. by 2025 will be controlled by millennials; and since 71% of millennials say they would rather go to the dentist than listen to a bank’s advice, companies have no choice but evolve to be more consumer-focused.

The only choice for banking and investment companies is to change their approach to satisfy the needs and demands of the younger generation for convenience, interactive interfaces, and transparency.