42% of consumers worldwide use a free FinTech app, but half of them do not know if the app sells their data, ESET survey reveals
ESET reveals that 42% of consumers worldwide use a free financial technology application or platform (FinTech). Of these, half (50%) do not know if the application they are using sells their data. 
ESET explored the issue of consumer data security in its global financial technology (FinTech) survey of 10.000 consumers in United Kingdom, USA, Australia, Japan and Brazil.
The research reveals interesting facts about how consumers protect their sensitive information when using FinTech applications.
The survey shows that, apart from the large percentage of consumers who do not know if their data is being sold, only 31% of people who participated say they read the terms and conditions of a FinTech application before installing it, and only 29% has read the privacy policy.
The findings shed light on measures taken - or not taken - by consumers around the world to protect themselves and their finances, and that many of them may be vulnerable to cyber threats. According to the research:
• Almost half (48%) of consumers do not use VPN (Virtual Private Network) and 42% of consumers connect to applications via public Wi-Fi network.
• One in five consumers globally consider themselves to be technologically savvy. Nevertheless, even among them, 31% do not use any application to manage passwords.
• It is also interesting, that of the 22% of respondents who can be considered as “FinTech adopters” (those who use four or more FinTech applications), 93% have installed software security on at least some of their devices.
At the same time, for "FinTech non-adopters" (those who use one to three applications), this percentage is reduced to 85%. This could mean that consumers who are more interested in using FinTech applications are taking more cyber security precautions when it comes to their personal financial data.
Commenting on them Results, Ignacio Sbampato, chief business officer of ESET, said:
“Protecting consumers' sensitive financial data has never been more important. FinTech can play an important role in the path to personal and societal economic recovery, and it is vital that FinTech solutions and their users are adequately protected. Our findings about consumers and attitude Our approach to data security reveals that many people may be vulnerable to cyber threats and our mission is to ensure that the most valuable information of technology users is protected by advanced security software. "
To learn more about ESET and its global financial technology research, you can visit address newsroom.
