intelligent

Ignacio Sbampato , Chief Business Officer at ESET

SET , a global leader in cybersecurity , revealed that almost two-thirds ( 62 %) of consumers worldwide use some form of FinTech app or platform . However , only 17 % strongly feel that the quality of information available on the potential risks related to the usage of FinTech applications – such as digital wallets , budgeting apps or e-trading apps – is adequate .

ESET has explored the topic of FinTech app usage in the consumer segment of its global financial technology ( FinTech ) research , surveying 10,000 consumers across the UK , US , Australia , Japan and Brazil . The survey explores consumer habits and attitudes toward FinTech applications and their perceived risks , and the responses reveal the level of interest in FinTech platforms from consumers in light of the social changes propelled by COVID-19 .

The research reveals that 57 % of people are now using online or mobile banking more frequently , and 21 % are more interested in managing their finances .

In fact , one in five of 18 to 44-year-olds has started using an exclusively online bank since the introduction of COVID-19 lockdowns , and one in ten consumers has started using FinTech platforms for the first time .

While levels of confidence regarding information on potential risks is low , confidence in the apps and platforms themselves is fairly high , with 58 % of people feeling secure about their accounts and money when using digital wallet applications . When it comes to budgeting and trading apps , users ’ feelings of security were slightly lower , at 50 % and 48 %, respectively .

Seventy-seven percent of FinTech users also agreed that , compared to traditional online banking applications , their FinTech apps are easier to use and offer a better user experience . Yet , when respondents were asked where they seek information about new financial services and technologies used to manage finances , an ‘ online search engine such as Google ’ proved the most popular answer .

Although not as widespread as mainstream FinTech solutions , interest in cryptocurrency is also steadily increasing among the ‘ tech savvy ’, with 30 % of consumers who scored themselves as ‘ advanced ’ in tech proficiency investing in them .

Ignacio Sbampato , Chief Business Officer at ESET , said : “ The COVID-19 pandemic has forced much of our lives into the digital sphere , and it is no surprise that consumers are gravitating toward new technologies to manage their finances . However , our survey results demonstrate that , while consumers are embracing FinTech solutions , technology companies must work to prevent an overconfidence in platforms that may be susceptible to risks and cyberthreats and ensure that consumers are educated and informed about their financial decisions . ESET is passionate about providing a safe and secure technology experience for all users , and our FinTech research is instrumental to understanding consumers ’ habits in the here and now .” �