In a survey of 16,000 customers, Capgemini found that they are increasingly becoming users of so-called "novel" financial services and that these customers clearly prefer these new services over traditional providers such as banks.
Leading the way are those who have started using financial products more recently, including millennials and emerging market consumers.
The report, based on a comprehensive survey of 16,000 customers in 32 countries and interviews with 140 industry experts found that nearly two-thirds of customers are using a fintech service or product with the greatest adoption in emerging economies. Winning hearts and minds They are winning hearts and minds, giving them a “top-of-mind” advantage as users are almost 20% more likely to refer a fintech company than a bank. Moreover, they are earning trust with almost 90% “somewhat or completely” trusting their fintech provider. In contrast, while almost all banking executives are of the opinion that an evolution towards digital banking is underway, only 12.9% believe their “core system” can support this new ecosystem.