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  • Why are Gen Y so cautious about credit?
  • Why are Gen Y so cautious about credit?
    Yelp Inc, Creative Commons (2017) ©
CASE STUDY

Affirm: transparent credit for Gen Yers

Young people's trust in financial services is at an all-time low; 71% of Gen Yers would rather visit their dentist than hear what banks have to say. But San Francisco-based Affirm is hoping that a transparent approach to lending can restore some faith in customers and show that credit isn’t all bad.

Location United States

Scope
Trust in the financial service industry is at an all-time low, with the 2017 Edelman Trust Barometer ranking it as the sector with the lowest levels of consumer confidence. [1] This lack of faith is particularly high among 20- and 30-somethings, with five million American Gen Yers lacking a checking account, and 71% of this cohort saying they’d rather go to their dentist than hear what their bank has to say. [2][3]

Financial services start-up Affirm is looking to change Gen Y’s relationship with finance by bringing transparency to consumer credit. It lets ...

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