Fintech
Amundi: The Fintech Sector is Making Its Way Into Managed Savings
Amundi research shows that is the wealthiest public that is most accustomed to fintech. As for the distribution, the prototypical average customer chooses to allocate over half (53%) of their portfolio to these channels without using the services of an investment professional. Yet, there are still two out of five interviewees who say they turn to a qualified advisor when they invest a sum equal to one year’s salary.
The international panorama of managed savings is increasingly open to the world of fintech. The Italian one decidedly less so. That is what emerges from a recent survey by Amundi SGR , according to which only 43% of Italian retail investors use digital finance tools compared to 64% internationally.
A gap that is affected by issues of income and gender, but also by the strong link with consultancy. Finally, according to the report, the phenomenon will have to take hold so that the national industry is not penalized with respect to future trends.
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Digital widespread among all ages. Strong consultancy in Italy according to Amundi
The research, which involved 4,186 savers between 21 and 60 years old in 11 European and Asian markets, shows that 39% of retail investors make money in hybrid form while the full digital share is 25%. And, if it is true that the catchment area is made up of all age groups (66% of the under 30s and 59% of the 50 to 60 year old group), a certain concentration emerges instead at the income level.
In other words, it is the wealthiest public that is most accustomed to fintech. As for the distribution, the prototypical average customer chooses to allocate over half (53%) of their portfolio to these channels without using the services of an investment professional. Yet, there are still two out of five interviewees who say they turn to a qualified advisor when they invest a sum equal to one year’s salary.
In this context, Italy is the country in which advisory services are used the most : three out of five investors. Although it should be underlined that it is women who raise the statistics, with a 65% inclination against 58% of men. But the gap doesn’t stop there. The research also shows that Italian savers are among the least likely to invest through a neobank (9%) or a roboadvice app (3%). Finally, it should be underlined that only 17% of them plan to invest more in the next 12 months while only 35% plan to do so in a self-managed manner between now and 2029. A trend that can be explained in 47% of cases by the reduction of disposable income .
Rome proves to be better than other capitals
In terms of sustainability, however, Rome proves to be better than other capitals. In fact, 58% of the total Italians hold ESG or similar funds in their portfolio, a percentage slightly higher than the global average of 53%.
Younger investors are driving the adoption of ethical finance criteria , with a much higher share in the 21 to 30 age group (71%) compared to the over 50s (47%). Renewable energy, healthcare and climate transition are at the top of the list of topics towards which we want to concentrate invested capital. While the production of weapons, deforestation, tobacco and plastic are viewed negatively.
A growing trend… thanks to the wealthiest
According to Amundi, levels of fintech use are very likely to increase over the next five years: “Almost half of digital retail investors expect the percentage of their investments to grow,” explains the report. And the ones who push the expansion could be the wealthiest and most aware users. Also in this case the range varies from country to country: it ranges from 60% recorded in Switzerland and Singapore to 31% recorded in France up to 35% in the Peninsula.
On average, however, the share of those who aim to use technological channels even further rises from 38% among those with less than 20 thousand investable euros to 55% of those with over 150 thousand euros. However, it is also a question of self-perception.
In fact, the research underlines how self-confidence plays a significant role in the greater use of innovative investment means: only 27% of the insecure are interested in approaching the digital world, while the share rises to 56% among those who believe to make good savings decisions. And the same happens in the case of responsible investments: 71% of confident people believe it is important or essential that their opinions are reflected in investment decisions, compared to 46% of less optimistic investors.
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(Featured image by IqbalStock via Pixabay)
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First published in FocusRisparmio, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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