PLANO, Texas– An unprecedented wealth transfer, now estimated at $124-trillion, is anticipated to change hands in the next 25 years, and the role women will play in managing their family’s finances as well as what financial institutions should consider to retain those banking relationships is the subject of a new report from Alkami.
The report, First Beneficiaries: How Financial Institutions Can Serve Women Through Inherited Wealth, builds upon the findings from the national research study conducted in partnership with Jason Dorsey and The Center for Generational Kinetics (CGK), according to Alkami.
A ‘Mirror & a Roadmap’
“This research gives us both a mirror and a roadmap. It reflects areas where we can do more to understand and engage women meaningfully and shows us what’s possible when we get it right,” Adriana Freeman, vice president of marketing and engagement at Signal Financial Federal Credit Union, said in a statement. “The wealth transfer is a catalyst, but the real shift is in how we build relevance, trust, and personal connection long before that moment. It goes beyond optimizing capabilities to reimagining the entire approach towards fostering the banking relationship digitally.”
The Findings
According to Alkami, the research revealed critical insights regarding digital banking preferences, including:
- 93% of women say user experience and functionality are important to them
- 87% of women care about online customer service experience
Additional Findings
According to Alkami, women say their primary financial institution is most significant to them because it’s where they:
- Do most of their online or mobile banking (50%)
- Use their debit card most often (49%)
- Receive their direct deposit (44%)
- Keep most of their money (44%)
Primary Decision Makers
“As the largest wealth transfer in history begins to unfold, women are poised to become the primary financial decision-makers in households and businesses across the country. This is a pivotal moment for financial institutions to show up differently,” Marla Pieton, senior director, research and influencer marketing at Alkami, said in a statement. “By delivering anticipatory experiences that feel one-to-one, not one-size-fits-all, banks and credit unions can show up as true partners. Women are looking for personalization and support as they navigate their financial journey. The financial institutions that recognize that will shape the future of banking while building trust, strengthening relationships, and earning long-term loyalty.”
Reinforced Message
According to Alkami, the findings reinforce what Alkami’s Women in Banking initiative was designed to spotlight: to elevate the conversations and insights that often go unheard, but are central to the financial services industry.
“As women influence the direction of household and generational wealth, their expectations around digital engagement, support, and personalization must be met to strengthen loyalty and retention,” the company said.
To download the report, click here.
One Response
Believe the number is $124 Trillion, not million.
Big number!