Consumers Want Tech Firms to Take On the Banks
- Survey shows many in U.S. would trust Amazon with their money
- Consultant predicts ‘Darwinian battle between banks and tech’
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Here’s another reason banks should fear the likes of Amazon.com Inc.: A new survey shows consumers are eager to see technology titans take on finance.
Nearly 60 percent of U.S. bank customers are willing to try a financial product from tech firms they already use, according to a survey conducted by consultant Bain & Co. For younger respondents, the interest was especially high. About 73 percent of people age 18 to 34 said they would try a tech firm’s credit card, deposit account, investment or mortgage.