All Together Now: How Modern Banks Serve Multigenerational Families’ Financial Needs

Nymbus Labs
3 min readJun 15, 2022


Photo by Tyler Nix on Unsplash

Social and economic changes over the past few decades — deepened by the pandemic — have altered the fabric of life in the U.S. Today, some 64 million people live in multigenerational households: Siblings, parents, kids, grandchildren, aunts and uncles are living under one roof.

This modern family model is collaborative. Gen Zs through Baby Boomers need responsive, secure banking tools to share financial responsibilities for childcare, paying bills and saving for family goals, such as college, vacations or retirement.

Niche banking concepts such as Scurry, a flexible, social and secure way to save built by Nymbus, provide a platform to help multigenerational families meet their evolving financial goals — and offer an opportunity for nimble financial institutions and brands looking to innovate and connect with new markets.

Different Generations, Diverse Banking Needs

Financial and digital literacy varies among generations, paving the way for innovative solutions to meet these families’ changing needs. While the youngest members of the household may be extremely tech-savvy, many lack the financial understanding (and clout) of the older generations with whom they live and bank- as the information below shows.

No matter when they were born, multigenerational family members have needs in common: Expert financial advice, security and streamlined digital banking tools. Solutions like Scurry meet those needs in one app.

Planning for the Future: Meeting Opportunity with Solutions

With solutions like Scurry, a family approach to saving has never been simpler. Scurry provides easy-to-understand financial tips and tools for the whole family. Built-in goal setting, spending and savings visualizations help everyone get on the same page and work together toward a common goal.

Families can achieve their savings goals faster with innovative tools such as:

  • Round Up: Scurry rounds up transactions to the nearest dollar to reach savings goals faster.
  • Bonus Bonanza: Earn higher interest when the family reaches a new savings tier.
  • Surprise Savings: Build savings with automated transfers of “extra” funds.

To meet the complex needs of multigenerational families, flexible digital tools will offer competitive rates, ID theft protections and perks like digital tax advisors to give everyone peace of mind.

Innovative concepts like Scurry are also a forward thinking solution for brands looking to strengthen customer affinity and drive new revenue. Consider the benefits of a resort like Club Med offering a built-in savings account for family travel. Embedded finance options for firms like MetLife can help customers build their family’s sustainable financial future. These offerings are powerful tools to build customer affinity and streamline repeat business.

From the office to the living room, the world is changing. Nimble financial institutions are changing too, and those that provide customers with novel, digital solutions will stay ahead of the curve. Understanding the changing needs of the modern family is the first step — and delivering a helpful, personal solution is next.

See what Nymbus can do for your business by exploring our portfolio of financial brand concepts that are avalible to buy or build based on your business needs.



Nymbus Labs

helps institutions grow and attract new market segments with banking technology, strategic marketing and user-experience expertise.