8 Key Australian fintech consumer trends

Key Australian Fintech Survey Fintech Results

  1. 84% of Australian consumers say digital or online banking is an important service for their bank to provide
  2.  76% say the best customer experience on the market is important in a bank
  3. 76% more likely to use a bank that puts purpose over profit
  4. 55% are more likely to use digital or online banking now than prior to the pandemic
  5. 14% of Australian respondents hold some type of cryptocurrency
  6. 33% of Australian respondents say the ability to buy, sell and manage cryptocurrency via their bank is important
  7. 24% of Australian consumers use BNPL when purchasing online, the highest of all countries surveyed – global average 11%
  8. 21% of respondents said they are more likely to switch banks post-pandemic.

Broader APAC Survey Results

  • 71% of APAC consumers prefer to invest rather than spend their money
  • 74% stick to a budget
  • Financial security (85%), reaching financial goals (87%) and return on investment (86%) are most important when making an investment
  • 50% of APAC respondents own property
  •  38% own cryptocurrency, and 29% purchased crypto during the pandemic
  • Money transfers (91%), account balance checks (90%) and bill payment services (87%) are the most important digital or online banking services cited
  • 74% of APAC respondents are likely to choose a bank that puts purpose over profit
  •  65% used online or digital banking more frequently during the pandemic
  • 75% are likely to continue to use online or digital banking more frequently post-pandemic.

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