Banking on Apple (and Google and Amazon)

The world of banking will be disrupted in the coming years.

As often in the case of disruption, it is new entrants from outside the industry who pose the greatest 'threat' to incumbents.

In April 2017, we asked our Smart Panel of Irish adults which 'alternative bank' they would choose (only one) if they had to move their account, listing potential 'tech banks' as the alternatives.

The choice is clear enough - 3 in 10 Irish adults would switch to Bank of Apple in such a scenario:

Apple Bank appeals to all age groups, but especially to the over 45s.

Google Bank has the strongest 'youth profile', with nearly half of under 25s saying it would be their preferred choice.

Amazon Bank appeals more to women than men, and to over 45s just like Apple.

Samsung Bank also has an older profile, while Tesla Bank has the strongest male appeal. We can't imagine why...

And the big surprise: almost nobody wants to bank with Facebook. Perhaps they know enough about us already?