Americans started using digital banking apps more often: survey

The survey examined online banking and financial habits of 2,000 US consumers and 8,000 consumers in the UK, Australia, Japan, Mexico, and Brazil

fintech apps

Americans started using digital banking apps more often: survey. Source: pexels.com

ESET has found that 65% of people now use at least one fintech app or platform, and 85% use either banking apps or online banking platforms.

When asked how the lack of access to physical banks during the lockdown has changed their banking habits, 30% of Americans said they now use online banking more often. Meanwhile, 30% also said they are using mobile banking more often.

The next most popular response was interest in managing their own finances (23%). In addition, 15% of Americans said they have started using online banking exclusively, while 14% were unable to make cash/check deposits as before.

The survey also found that 93% of people feel secure when using online banking, with 55% of people believing they feel “completely safe”. 29% of people log into and use financial accounts when they are connected to public Wi-Fi hotspots or other open networks “all the time,” and another 22% do so “sometimes.”

Another 39% of people do not use a VPN to secure their connection when using financial apps. In addition, 66% of people feel safe with their accounts/money when using digital wallet apps, 63% of people feel safe with budgeting apps, and 59% of people feel safe with their accounts/money while using trading applications.

Before using the fintech app services, only 31% of people read the terms and conditions, 30% read the privacy policy, and 20% look for an encryption policy.

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We’ve reported that after 1 year of quarantine, 85% of office workers look forward to returning to their office.

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