From transactional to experiential: Banking for Generation Z For banks, investment firms and insurers, Generation Z – defined loosely as the cohort born in or after 1995 – is the next great market segment, accounting for approximately one quarter of the entire U.S. population. Gen Z is larger than the millennial generation and even larger than the baby boom generation. However, success in reaching this attractive market segment is a tremendous challenge because of three significant issues: · The Great Recession: The housing-driven financial meltdown of 2007-2010 dimmed the optimism of every generation, but it made Gen Z remarkably pragmatic about money and particularly mistrustful of big banks (and large institutions in general).