ZenBanx is a fascinating new mobile banking service that is likely to fit very well with the nomadic lifestyle common with plenty of millennial consumers. Having just launched in early 2015, the innovative Canadian bank is a project of Arkadi Kuhlmann, the founder of ING Direct.
Described by Kuhlmann as a service aiming to "let money travel as freely as humans," ZenBanx is a venture powered by a partnership with Duca Financial Services Credit Union Ltd. The mobile "regulated bank account with a multi-currency capability" is particularly relevant to students and millennials generally who are statistically more likely to be backpacking through a distant country than avoiding travel for the sake of amassing a designer wardrobe.
Mobile Banking Ventures
ZenBenx is an Innovative New Service Perfect for Roaming Millennials
Trend Themes
1. Mobile Banking - Disruptive opportunity: Develop mobile banking apps with multi-currency capabilities, catering to millennials' nomadic lifestyle.
2. Multi-currency Capability - Disruptive opportunity: Create financial services that offer seamless currency exchange and global money transfers, targeting millennial travelers.
3. Nomadic Lifestyles - Disruptive opportunity: Innovate services for digital nomads by providing flexible and easily accessible banking solutions for their on-the-go lifestyle.
Industry Implications
1. Banking - Disruptive opportunity: Develop mobile banking solutions with multi-currency support to attract and serve millennial customers.
2. Fintech - Disruptive opportunity: Build FinTech platforms that enable seamless global money transfers and currency exchange for nomadic millennial consumers.
3. Travel and Tourism - Disruptive opportunity: Create travel services or partnerships that incorporate mobile banking solutions with multi-currency capabilities to enhance the experience for millennial travelers.