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Most European Union banks fail to meet the increasing demand for the investor – scanning – survey

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European banks and financial institutions may significantly reduce the demand for cryptocurrency services, with less than one in five who provide digital asset products, according to a new survey conducted by the investment platform in Crypto Bitpanda.

The study surveyed 10,000 retail and business investors in 13 European countries and found that more than 40 % of business investors have already carried encrypted currencies, with 18 % planning for investment in the near future.

However, only 19 % of the financial institutions included in the survey said that their customers showed a strong demand for encryption products – indicating a 30 % gap between the actual investor’s accreditation and perceived benefits.

*Curical investments for private sector investors in the European Union, according to the country. source:* *Bitpanda*

Moreover, only 19 % of European financial institutions included in the survey provide encryption services, while more than 80 % of institutions recognize the increasing importance of Crypto.

However, some European banks realize the increasing demand for digital assets, as 18 % of the financial institutions included in the survey are planning to expand their encryption service offers, especially offers related to transmission of encryption.

“The financial institutions in Europe know that Crypto is here to survive, but most of them do not provide services that match the investor’s request,” according to Bitpanda.

“The main barriers that prevent adoption are not external issues like organization but internal, like” lack of resources or knowledge, “said CointeleGRAPH, adding:

“These can be overcome, and the challenge facing financial institutions is clear: Go and check your revenue flows. You can know where customers transfer their money; you can see how much the demand for encryption is.”

*Partners’ preferences for private investors regarding encryption investments. source:* *Bitpanda*

More encryption products from banks may increase the adoption of European encryption, given that 27 % of the respondents prefer to invest in cryptocurrencies through a traditional bank, while only 14 % will choose to exchange encryption.

In comparison, 36 % of business investors choose investment through the stock exchange, while traditional banks were only the third most popular option with 27 %.

Financial institutions that do not risk the integration of encryption in the loss of their revenues

Banks and financial institutions without cryptocurrency integration risk losing significant revenues from both companies and retailers, according to Enzersdorfer-Konrad.

He added: “The financial institutions that are late to integrate encryption services risk the loss of their revenues on their competitors or the original encryption companies. With the presence of European Union markets in organizing encrypted buttons (MICA) that provide organizational clarity, it is time to work now.”