A new survey from The Logic reveals that Canadians are warming up to fintech, but trust remains a big barrier. Wealthsimple tops the list, with 46% of respondents using its services—more than double any other fintech. Still, 42% of respondents see fintechs as less trustworthy than big banks. Users want regulation, stability, and transparency to feel more comfortable switching.
Many cited data security concerns, while others pointed to shady practices at traditional banks. With 56% of respondents calling for more regulation, the industry faces challenges in earning public trust.
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