Curinos was pleased to welcome marketing executives from more than 35 financial institutions to its CMO Summit for 2025 in Chicago, April 29 and 30. Among other notable guest speakers was Rustom Dastoor, Head of Marketing & Communications for the Americas at Mastercard. Curinos is partnering with Mastercard in an initiative to help banks and credits unions better raise and manage deposits. Rustom spoke of these three major demographic shifts based on Mastercard research that will redefine banking, and society at large, well into the future:
1. The Transfer of Wealth to Women
Currently only 18% of families are what might be considered traditional nuclear families, and the number of single women is expected to grow by 25% between now and 2030. At that time, women will manage $35 trillion in personal financial assets—41% of the total, up from 31% today. They currently represent 62% of all investors and, as investors, they differ from men in significant ways. Their returns have been shown to be 40 basis points higher, and they are more likely to gravitate toward investments that align with their values.
2. Collective Individualism: The Rise of Gen Z
Gen Z, many of the banking customers of tomorrow, represents individuals currently 13 to 28 years old, which means they grew up exclusively in the digital age. More than half identify as non-White, and they are more likely than the general population to identify as LGBTQ+. Many older Gen Zers have stayed home after the pandemic because of affordability issues, and more than two-thirds report that they’re “thrifty.” Individualism matters: they tend to be irreverent, and fully 90% of them say they want to start their own business someday, They interact with brands in real time, want real stories from real people and can spot phoniness a mile away. For marketers, easy access, convenience and authenticity need to be top of mind.
3. The Growing Influence of Hispanics
By 2050, Hispanics will grow from 20% of the population today (65 million) to 30% in 2050 (more than 110 million). Culture drives their behavior—it’s the tie that binds—so considering culture in advertising and messaging is everything. Many feel underrepresented in today’s society, so being sure to include them in the marketing mix is critical, especially given their rapid ascendance. Clearly, there are cultural differences between the national origins of Hispanics, but many, if not most, consider themselves 100% Hispanic and 100% American. Overall, they tend to be more experimental than the national average and more entrepreneurial.
Rustom also emphasized the need for marketers to highlight the emotional benefits that money can bring, not simply the value of money itself, as the Priceless campaign has done so successfully since its inception in 1997.
