Survey finds out Americans generally trust digital banking

According to a survey released by ESET, 65% of people from the US say they use at least one fintech app or platform and 85% use either banking apps or online banking platforms.  

The study examined the online banking and finance habits of 2,000 consumers in the United States and 8,000 consumers across the UK, Australia, Japan, Mexico, and Brazil. The survey also looked at whether people feel secure while banking online or on an app and if they are familiar with the privacy policies of the apps they use.

Some of the main points of the survey are the following:

93% of people feel secure when using online banking, with 55% of people saying they feel ‘very secure’;

66% of people feel secure about their accounts/money when using digital wallet apps, 63% of people feel secure about budgeting apps, and 59% of people feel secure about their accounts/money when using trading apps;

Before using the services of a FinTech application, just 31% of people read the terms and conditions, 30% read the privacy policy, and 20% look for the encryption policy.

The survey also found that 50% of 35-44-year-olds have become involved in cryptocurrencies since the pandemic, higher than any other age group, a significant development, as ESET researchers recently found a slight increase in crypto-mining activity following a decrease after the bitcoin crash in 2018.