How does Europe feel about fintech?

In one of the largest fintech studies ever conducted, over 4,500 people told us what they really think about digital banks and their services.

Across Europe, digital banks are taking on the established players, offering whizzy new services and connected offerings that appear to appeal more to the online generation.

But we wanted to know — what do people really think? Will savers really pay their salary into a digital account every month? And what do people think about more complex options, like mortgages?

While over half of adults in the UK (53%) are open to depositing their salary into a digital bank, women are less aware of the brands than men:

Women are also less willing to trust digital banks with their salaries. Across Europe, 53% said they wouldn’t pay their pay cheques in, compared to 42% of men.

Just over 1 in 4 (27%) in the UK would consider taking out a mortgage with a digital bank.

Of those who said they wouldn’t consider taking out a mortgage from a digital bank, 36% said they’d prefer to take out a mortgage with an established bank, while 11% said they don’t believe digital banks will be around for the lifetime of their mortgage.

“Most of the time I use contactless for ease and convenience, it’s best for me on my busy lifestyle,” said a 27-year-old British man.

“Contactless is convenient for me as I rarely carry cash, but on the occasion of stumbling across a place that doesn’t accept card or a delivery takeaway, I’ll still withdraw cash to use,” said a 20-year-old woman.

Elsewhere? Not so much. In France, 31% of adults told us they still use cheques, while German respondents were most likely to use cash (87%).

These are just the top lines of the study — there’s plenty more to investigate, so do feel free to dig into the data and see what you can find — and feel free to share your thoughts with us!

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