60% of Consumers Turn to Fintech Apps Before Financial Professionals

According to Capterra’s 2023 Fintech Survey of over 870 consumer fintech users, fintech apps have simplified financial management, with 60% of respondents seeking advice from personal finance tools before financial professionals. The survey also found that younger generations and the middle class find fintech most appealing due to its convenience. The most popular solutions among respondents were those related to banking, payments and personal finance management. Despite high adoption rates, many respondents expressed a preference for professional assistance, especially for complex tasks like tax planning, estate planning, auditing and business consulting. It should be noted that some respondents did identify security concerns and technical issues as common challenges they face.