Young adults in Switzerland are taking responsibility for their finances at an early age. Yet, a recent study by the Lucerne-based consultancy Neoviso among representatives of Generation Z (born between 1995 and 2010) shows: despite stable employment, financial security remains out of reach – along with confidence in their own financial management.

Around 70 percent of respondents are already working, and the majority save regularly. But only 9 percent feel «very confident» when it comes to financial matters, according to the study. At the same time, the desire for more guidance is strong – especially on long-term topics such as retirement planning and investments. Ideally, this guidance should be provided directly in the educational setting.

The issue of investing is of particular concern to young women: 81 percent of female respondents would like to gain more knowledge about investments, compared to just 59 percent of men. This lack of knowledge is also reflected in gender-based investment behavior: while only 36 percent of men do not invest at all, nearly three-quarters (72 percent) of women completely refrain from it.

Sustainability and Social Engagement Play Minor Role

The study also highlights that Generation Z primarily perceives banks as digital service providers. When it comes to specific requirements, practical aspects dominate: more than two-thirds of respondents consider good e-banking functionality and low account management fees as essential. By contrast, sustainability or social engagement of financial institutions plays only a minor role (15 percent).

This underlines the competitive edge of neobanks over traditional institutions, as e-banking features, user-friendly app solutions, and low to zero account fees are the main characteristics of digital banks.

Never Switched Banks

What is striking, however, is that many young adults remain loyal to their first bank – often the one originally opened by their parents. Nearly 70 percent of respondents say they have never switched banks.

Neoviso CEO Yannick Blättler therefore recommends: «For established institutions in particular, it is crucial to stay close to the pulse of the younger generation and to engage with their needs. Ultimately, it’s about staying relevant to these customer groups. As we know, the competition never sleeps.»

Missed opportunity

Even though around 80 percent of respondents put money aside regularly, the step toward structured investing remains the exception (10 percent). For many, investing is associated with uncertainty and a lack of transparency.

Far more often, savings are put toward short-term goals such as travel or holidays (28 percent) or no specific purpose at all (19 percent). Yet it is precisely at a young age that the leverage for wealth building and retirement planning would be particularly effective.

The data suggests: it is not a lack of funds, but rather a lack of knowledge that is holding people back.

• The study was conducted in spring 2025 among 352 members of Generation Z. Neoviso, a Swiss company founded in 2016, specializes in the topic of the «Next Generation.» Based in Kriens, Lucerne, the firm currently employs 23 people. Among other activities, it runs a panel of more than 8,000 Gen Z representatives who are regularly surveyed on current issues.