Data protection reservations
This year, PwC asked for the first time in twelve countries, but for the comparison figures with 2019 only the responses of citizens from the ten countries that were surveyed a year ago were evaluated. In addition to Germany, Austria and Switzerland, these are: Italy, France, Spain, Great Britain, Poland, the Netherlands and Sweden. Ireland and Turkey are new.
The widespread reservations about data protection remain unchanged with payment apps. According to the authors of the study, this is a major obstacle to the spread of so-called open banking.
More incentives could make paid apps more attractive
As in 2018, only 20 percent across Europe said they would be willing to share their personal data on personal finances. 55 percent refused, the rest are undecided. "Banks and fintechs can, for example, show their customers the advantages of open banking with comprehensive control over all accounts, direct debits and contracts," says the study.
According to the management consultancy, financial apps would have better chances of dissemination if banks and fintech companies offered their customers additional advantages - in addition to discounts on shopping, for example, automated tax returns or free banking services.