Proof Point
Four in 10 Gen Y consumers globally willing to use Google or Amazon banking services if offered, with wide variance ranging from 60% in Brazil to 14% in Canada
Gen Y Willingness to Consider Banking With Google or Amazon
2016 (percentage)
| Note: | Data from Accenture’s consumer study of 32,715 adult consumers of banking, insurance and investment advice services across 18 markets (Generation Y age = 22-34) |
Proof Point Findings
- Fintech – Use of digital technologies and innovation to support, enable or provide alternatives to traditional banking services
- Interested Young Consumers – Global average of 40% of Gen Y consumers would consider banking with Google or Amazon if companies provide them
- Highest Interest – Brazil Gen Y consumers expressed highest interest in hypothetical offering, followed by Indonesia (54%) and Italy (52%)
- Key Growth Drivers – Include proliferation of fintech or alternative banking services, growing adoption of digital banking technologies, industry convergence, increasing affinity of younger generations with big tech companies, and rising consumer preference for faster, easier, and more convenient digital banking transactions
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Accelerator |
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
August 20, 2017
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