From Bank Failures to Cyber Threats: Trust Issues in Banking Across Generations

tl;dr: I was raised on tales of my grandfather's intense mistrust of banks. His catchphrase was, "I prefer my money where I can see it." The Great Depression and the numerous bank collapses he saw were the leading causes of his caution. Many people still feel similar trepidation today, but it is concerned with digital banking. Historical Distrust of Banks In the past, banks were only sometimes the reliable organizations they are now. Many people lost their life savings due to the collapse of multiple banks during the Great Depression in the 1930s. Older generations were affected by this time and became wary of financial institutions. There was a broad feeling of suspicion stemming from the prevalence of stories about money lost and lack of transparency. The Rise of Digital Banking Banking has seen significant transformations in the present day. Thanks to digital banking, managing money is now more convenient than ever. With a few touches on your smartphone, you can tra...