Compass Plus – Consumers cautious of new banking technology

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Results from the 7th Annual ING International Survey on attitudes towards financial technology were released this week and revealed that, despite a high demand for banking innovation, consumers are often hesitant when it comes to adopting it.

Out of almost 15,000 people across 14 European countries that took part in the survey, almost 90% actively use multiple mobile devices for their banking needs, but what about other tech services on offer?

While many new financial service providers find their feet on the market offering money management, transfers, spending tracking, lending and more, half of European consumers still stick to their banks only. This shows a certain degree of customer ‘stickiness’ in regards to banking services – whether through cautiousness, loyalty or simply inertia.

Read more here.

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