In Pakistan, a quiet financial revolution is taking shape. The r/FIREPakistan community on Reddit, comprising 31,000 engaged members, young professionals, and middle-class earners, is united in exploring Financial Independence and Early Retirement (FIRE).

Here, frustrated by the limitations of traditional career paths and paycheque-to-paycheque cycles, they discuss crypto strategies, aggressive saving, equity recommendations, smart investing, and passive income – dreaming of a future where work is optional, not mandatory.

A newcomer posts a question: “Which influencers do you follow for financial advice on YouTube, Instagram, etc.” The responses come quickly, “Abdul Rehman Najam does really good fundamentals,” one user recommends, while others highlight Inveskaar, Sarmaaya Financials and Trade Flow Advisor as essential resources. The names of influential figures such as Waqar Zaka, Shahid Anwar, Azad Chaiwala and Meiraj Haq rise to the forefront. “Thanks. Do you know anyone on Instagram?” another poster chimes in.

This trend is not unique. Prominent media figures like Javed Chaudhry (1.69 million subscribers on YouTube), are at the forefront, delivering impactful money management tips through videos like If You Have One Crore Rupees.

Critical discussions around financial literacy are becoming mainstream, with Gen Z financial influencers such as Mashal Khan making their mark – her YouTube podcast, Stock Talk, featuring content such as Fundamental Analysis Made Easy, has garnered her 19.8K subscribers. Even short YouTube reels such as What Is Your Personality Type for Financial Planning? or My Six Steps for Payday Routine, are contributing to the financial savviness of this digital population. For banks and financial institutions with their heavily regulated industry, burdened by legacy procedures and processes, this new world represents a significant challenge.

A New Customer, A New Reality: Banks continue to serve Gen Z the same way they served previous generations, relying on traditional metrics such as salary size and ECIB credit history. Yet, unlike previous generations who followed predictable career paths, today’s Gen Z professionals juggle multiple income streams – freelancing, e-commerce, and even digital trading and investments, such as cryptocurrency. This creates a major challenge for banks. How do you assess a loan applicant with three freelance jobs, an eight-second attention span (officially lower than a goldfish), and a crypto wallet?

Serving Gen Z banking customers in a way that resonates with them is a game-changer for financial institutions. Although Gen Z’s financial habits may appear similar to those of previous generations – they still open bank accounts and surprisingly trust banks more than other financial institutions – the way they engage with digital technology – is fundamentally different.

An Exceptional Digital Experience is Non-Negotiable: Although all financial institutions offer their services online and via apps, mere competence does not cut it for Gen Zers, who have grown up with smartphones in their cradles. To retain this generation, traditional banks must rethink their approach – a strong physical presence is reassuring, but an exceptional digital experience is non negotiable. Social media, influencers, YouTube Shorts, and even the User Experiences (UX) of neo-banks and apps such as SadaPay and NayaPay are beginning to shape Gen Z’s banking preferences in Pakistan.

This may be stating the obvious, but investing in cutting-edge digital platforms that offer seamless, intuitive and engaging experiences is what will change the game. Gamification, personalised recommendations and real time insights can help capture Gen Z’s attention and keep them engaged. Customer experience plays a critical role in determining their favourite financial brand. They want tools that help them manage their money, learn from peers, and provide a sense of community and fun. For Gen Z, traditional credit models with long approval times, hidden fees and rigid repayment structures are outdated. Instead, financial institutions need to design flexible, digital-first credit solutions tailored to their unique financial behaviours.

A Perfect Gen Z Credit Card: A perfect Gen Z credit card would look like this: No annual fees, instant approval via CNIC and bio-verification via the app. Level-based rewards (spend responsibly, unlock better perks). In-app credit coaching and expense tracking. Buy Now Pay Later integration for larger purchases such as zero percent instalments on Faysal DigiMall. Exclusive discounts on streaming, gaming and e-commerce.

This perfect card could also gamify credit and rewards, and because gamification is key to Gen Z’s engagement, instead of standard cash back or points, this card could offer Streak-based rewards: Spend consistently and unlock better perks. Level-up credit limits: Good repayment history increases spending power. Social credit perks: Referral-based bonuses or group spending benefits.

This perfect Gen Z card would offer seamless integration with digital lifestyles. It would be linked to a perfect Gen Z mobile app that understands that users prefer to pay via mobile wallets, contactless and digital banking. The mobile experience should work seamlessly with e-commerce platforms (exclusive deals on Daraz, FoodPanda, etc.). Offer travel-friendly perks (zero forex fees, airport lounge access). The mobile experience would focus on financial literacy and control. Gen Z are financially aware and prefer tools that help them understand and manage their money effectively, such as spending insights and budgeting tools for better financial planning. Education on ECIB scores and responsible credit use. Auto-payment reminders and spending limits to prevent overspending. AI-personalised recommendations based on spending habits and financial goals will set the banks apart once we have the application part done right.

1. Do we have their attention now?: It’s not enough, however, to have a winning proposition. To capture Gen Z’s attention, banks must go where they are already active – social media, digital communities and streaming platforms. A strong, digital-first marketing strategy will be essential.

2. Influencer Partnerships: Banks can collaborate with trusted financial content creators on YouTube, Instagram and TikTok. They can also sponsor or create influencer-led financial challenges (for example, Smart Spending with Faysal Bank Noor Card series). Banks can also host X Spaces and Reddit AMAs with financial experts.

3. Gamified Social Media Engagement: To effectively communicate the concepts, banks should create engaging TikTok and Instagram reels that explain complex topics in a fun and digestible manner. Interactive Instagram stories and polls to encourage user engagement and gather insights into smart money habits, as well as referral-based rewards programmes that offer incentives for app sign-ups and card applications through successful referrals will lead to more engagement with the brand.

Umair Mohsin is a former traditional and digital advertising professional now working as a banker. umair.mohsin@gmail.com