Plaid’s 2022 Consumer Survey: The Fintech Effect

Plaid's 2022 Consumer Survey reveals that eight in ten consumers are using digital financial apps and services, with half of Americans managing their finances daily through fintech. The use of fintech has increased by 10% year-over-year, highlighting its central role in consumers' financial lives. Despite economic challenges such as inflation and market volatility, 61% of consumers say financial technology helped them weather these issues. Consumers are increasingly seeking control, transparency, and great experiences from fintech apps, with 95% wanting greater control over their financial data. Financial companies have growth opportunities if they can better support consumers' financial needs and provide more financial knowledge to customers who crave it.