New data has been released that gives a snapshot of how Brits use Fintech apps – as well as the reasons why some people avoid them.
The study* from digital marketing agency for insurance and finance companies Speedie Consultants shows that overall, 76% of people surveyed use a finance app.
Types of finance apps used
Who uses the apps?
How often are apps used?
Nearly 1/4 (24%) of all those surveyed use their finance apps approximately twice a week, while 23% said they use their apps daily.
Reasons for using finance apps
The most popular reasons for using a finance app are because:
Reasons for not using finance apps
Of those that don’t use finance apps, reasons cited include:
Jason Hulott, Director from Speedie Consultants, says: “We wanted to see if people actually used finance apps on their phones or whether they are perceived as a gimmick. We see lots of app and card based services in this space and we wanted to understand if and how they are actually being used. It is interesting to see that more people use them than we thought and also that lots of people access their apps daily.
“We will be running this again in six months time to see the changes as we see more and more services being launched or invested in.”
If you would like to use this data, please ensure you include a link to this page citing “Fintech research, Speedie Consultants”.
* Nationwide survey carried out of 200 people aged 18+
** For clarification, ‘finance apps’ encompasses banking, insurance, budgeting and all apps related to finance.