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Consumers Willing to Offer Up Data When Buying Fintech Products, Survey Finds

“Consumers are attracted to the easy user experience ... and are willing to overcome misgivings about how technology companies use their data."

fintech financial products Source: Shutterstock.

Almost two-thirds of Americans said they are willing to buy or apply for a financial product from a fintech company instead of a credit union or other traditional financial service provider. Even more Americans said they believe those fintech companies are more likely sell their personal financial data, according to a new survey from Ondot Systems.

The digital card services company’s survey of 2,010 U.S. adults at the end of January found that 64% of all respondents and 81% of people ages 18-34 would consider getting products from fintechs. However, only 55% said they trusted tech companies with their personal financial data; for the 18-34 crowd, that number was 66%.

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