Greek banks are launching offers specifically aimed at the younger demographic as part of a broader strategic plan to maintain their market share threatened by foreign digital banks. The customer base of these digital banks is estimated to exceed 2 million individuals, predominantly under the age of 40. This demographic trend has prompted traditional banks in Greece to rethink their strategies and product offerings to attract and retain younger customers.

A banking source has acknowledged the intense competition faced by traditional banks, explaining that digital banks were designed from the ground up to expand and serve customers without the need for physical branches. This operational model gives them a distinct advantage over traditional banking institutions, which have only started to undergo significant digital transformation following the pandemic. As a result, the traditional banks are focusing on improving their digital services and implementing more attractive financial products tailored to the needs of the younger user base.

This shift not only reflects the changing landscape of the banking sector but also has implications for customer loyalty within the financial industry. By courting younger consumers, traditional banks hope to establish relationships early on, ensuring that they do not lose these customers to competitors that offer more modern banking solutions. This ongoing adaptation is crucial as the market dynamics evolve with the increasing preference for digital banking services among the youth.