How Capital One in the US reimagined banking

Source: Business Insider.

Millennials largely reject the banking experience their parents and grandparents embraced. They’ve abandoned the relationship-based, retail branch experience in favor of online banking. They largely distrust traditional banks, opening the door for a rash of disruptive fintech startups. Nearly 75% say they’d be more excited by a financial offering from Google, Apple, PayPal, or Square over their nationwide bank, according to a survey by Scratch, a subsidiary of Viacom.

Capital One’s latest venture, the Capital One Café, is a new effort to market to millennials that appears aimed at bridging this disconnect — a move to win over their hard-won loyalty and lay a new foundation for relationship-based banking.

The company is opening a string of cafés in some of the nation’s largest cities that function as co-working spaces open to the public. Anyone, regardless of bank affiliation, can grab a cup of coffee, sit on a couch, and, if they want, get coached through their money problems by professionals — for free.

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Check out this short video by Capital One about the Capital One Café experience to get inspired!. It’s a one-of-a-kind.

Read more about Capital One Cafe

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