Assertion Supported AI assessment confidence: 85% certainty 3/5 debate potential 2/5

Burbidge: Nearly 80% of millennials trust tech giants over banks

Eileen Burbage · a16z Podcast | Fintech from the World's Financial Capital -- London · Jan 2, 2019 · at 32:18

Eileen Burbage, partner at Passion Capital, cites consumer survey data during a discussion on banking trust and millennial behavior.

0:00 / 0:09exact quote · 9.0s

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“Certainly more than 50, I think it was close to 80% of millennials trust the brands, you know, Facebook or Google. Or Apple, I think was the top of the pile, much more than their banks.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

Consumer surveys show nearly 80% of millennials trust major tech companies like Apple, Google, and Facebook more than traditional banks.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Prior to November 2015, widely cited industry benchmark surveys reported millennial preferences for tech giants over traditional financial institutions within the 70%–80% range. Most notably, the Viacom Scratch 'Millennial Disruption Index' (2013–2014) surveyed over 10,000 millennials and found that 73% would be more excited about new financial services from tech companies (such as Google, Apple, Amazon, and PayPal) than from their nationwide bank, while 71% would rather visit the dentist than listen to banks. Similarly, Accenture's May 2014 Consumer Banking Survey found that 72% of millennials were likely or very likely to bank with tech companies. Eileen Burbage's conversational characterization ('certainly more than 50, I think it was close to 80%') accurately reflects these published findings.

Viacom Scratch 'Millennial Disruption Index' (2013–2014) reported 73% of millennials were more receptive to financial services from tech companies like Google and Apple than from their own bank.
Accenture's May 2014 Consumer Banking Survey reported 72% of millennials were likely to bank with non-bank technology/telecom providers.
Facebook's 2015 'Millennials + Money' study reported 92% of millennials distrusted traditional banks.

Checked against

[1] fastcompany.com [2] bbva.com [3] bbva.com [4] criticalsoftware.com [5] scribd.com [6] americanbanker.com [7] ctvnews.ca [8] thefintechtimes.com

Millennial Disruption Index 73 percent 33 percent banks Viacom Millennial Disruption Index banks trust tech companies millennials trust Apple Google Facebook more than banks survey 2013 2014 2015 "trust" "tech companies" "banks" survey millennials 2014 OR 2015 OR 2013

assessed as of 2026-08-27

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Apple bank Facebook Google millennials

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