The so-called members of the "Generation Y" demographic are heavy users of mobile-banking and bill-payment applications, a new report from Fiserv found. The company, which serves the financial industry, said 33% of people ages 21 to 29 banked through their cell phones in the month before the survey, compared with 11% for baby boomers. Significantly, the Gen Ys are the most likely group to use debit cards and own savings accounts, and they regularly rely on the Internet and others in making their financial moves.

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