Almost half of 18 - 24 year - olds do n’t know the methods that traditional banks use . This is the conclusion of a new report from financial regulatory consulting firm , Neopay . Of those surveyed , 30 % said that they would trust a technology company ( eg . Google ) with e - money transactions , with older respondents having fewer trust funds when dealing with high - street banks . The report argues that the figures suggest that younger customers are increasingly opting to invest and control their funds digitally . Neopay ’s commercial director , Scott banks , concluded that : “ Traditionally , banks have been synonymous with dependability and solidity . However , since the banking crisis , the sturdiness of banks has been cast into doubt ” .
Almost half of 18-24 year-olds don’t trust the methods that traditional banks use. This is the conclusion of a new report from financial regulatory compliance firm, Neopay. Of those surveyed, 30% said that they would trust a technology company (eg. Google) with e-money transactions, with older respondents having fewer trust concerns when dealing with high-street banks. The report argues that the figures suggest that younger customers are increasingly opting to manage and control their funds digitally. Neopay’s commercial director, Scott Dawson, concluded that: “Traditionally, banks have been synonymous with dependability and solidity. However, since the banking crisis, the sturdiness of banks has been cast into doubt”.