Fintech vs Banks. Who do users trust?

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Fintech companies offer financial services similar to those offered by banks or asset managers. Research has compared who users trust more - banks or fintech, and what criteria are important to clients.

What do users choose?

66% of Generation Z trust fintech companies more than traditional banks. They choose innovative projects because technological advancement, transparency, and service accessibility are their priorities.

37% of older generation consumers also trust fintech companies. A recognized and familiar company brand is important to clients, along with the convenience and accessibility of financial services.

What inspires trust in fintech projects?

Innovation in fintech projects must be supported by trust. To achieve this, companies need to provide users with:

🔹 Transparency. Clients know how the company operates with their data, what fees it charges, and how it conducts operational processes.

🔹 Confidentiality. Protecting users' personal information is a company priority.

🔹 Security. Ensuring the security of financial transactions is paramount: cybersecurity, encryption, access control, etc. If consumers are confident that their data is secure, they are more likely to use FinTech services.

🔹 Accessibility and user convenience. Access anywhere in the world and a user-friendly interface play a crucial role in the user experience.

A big challenge for international companies is to choose the right payment solution and have aviability to send and receive money anywhere and to everywhere in the world. Collect & Pay has a great solution for you! 

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