Old and young divided on Internet
While Australian superannuation funds and their administrators are investing heavily in getting their online act together, new research has suggested that Australians remain heavily polarised about online financial services. The research, released by research house Datamonitor, suggests that while some Australians have positively embraced online financial services, others remain strongly opposed.
The survey of 2,000 Australian consumers found as many as 27 per cent of respondents would never consider using online financial services, with security being the major issue.
However, it found that, on the other hand, 16 per cent of respondents were very positive about the Internet and the possibilities it provided. It said the attitude towards using the Internet corresponded closely with age, with consumers over age 45 much less likely to be positive towards online financial services.
Despite the findings, Datamonitor is predicting that online financial services will continue to grow strongly, with its financial services analyst Petter Ingemarsson suggesting that it will be driven by demographic changes.
“The younger generations, the financial consumers of tomorrow, are much more positive about using the Internet for financial affairs,” he said.
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