By Sushmita Pathak
The country that gave the world smart drip irrigation and the Epilady has also been an early and enthusiastic adopter of financial technology, as in mobile banking apps, digital wallets, online lending and other services that manage moola. In fact, a survey of selected industrialized countries shows that: Israel has the highest adoption of FinTech products, beating out the U.S., the U.K., France and Germany.
That’s according to Blumberg Capital’s “The Ways We Pay” report, which analyzed consumer response to fintech in five economically mature nations. As for the specifics, 50 percent of Israeli adults use mobile banking apps at least once a month. In the U.S., it was 38 percent; the U.K., 37 percent; in France, 35 percent; and in Germany, a surprisingly anemic 28 percent. Cash is still king in Germany, with 75 percent of adults using it for purchases at least once a week — more than any of the nations surveyed.