What will the world be like after the coronavirus? This is a question being asked by many across Italy, and the world for that matter, in all aspects from day-to-day life to the future of the economy. Nomisma, the research and consulting company, has been looking for some answers in Italy, at least in terms of personal finance and on the whole, the company has discovered that Italians will become more and more digital.
The digital identity of Italians
"The World after Lockdown" a survey carried out Nomisma and CRIF (a company providing support for the supply and management of consumer credit) with a sample of 1,000 Italians from 18 to 65 years old has analysed the impact of the COVID-19 lockdown on the lives of citizens and found out the following. During phase 1, internet users that engaged in online activity for at least 3 hours a day for reasons other than work reached 87%. There will subsequently be a return to normal with 70% of frequent users.
Regarding the increasingly popular "digital identity" (and therefore all the information collected and recorded in the same computer system and in digital form that refers to a specific person/user), only 15% of Italians have never heard of it, while 42% of young millennials (18-29 years) know perfectly what it is, with half of them (52%) using more than 5 different digital identities. A digital identity for 93% of users was created for personal use, while 24% use it for work.
In addition, 1 out of 5 Italian residents has a SPID identity (from the Public Digital Identity System), among them 36% had never or almost never used it before lockdown. 37% of citizens used SPID during lockdown mainly used the services provided by INPS (National Institute for Social Security) such as pension, unemployment and domestic workers registration services, while 49% used it for transactions with Inland Revenue for the payment of taxes and duties.
The electronic health record was also used by 33% of those with a SPID identity. Italians seem to recognise the advantages of using these tools so much so that in the next 6 months 70% are willing to use the online services of the Public Administration instead of going to centres for face-to-face services. In particular, the thing that is most appreciated, is the possibility to use the services everywhere, at any time and without time constraints, as well as being a faster service.
Online and mobile banking
The coronavirus pandemic has been a (forced) accelerator of the digitalisation of Italy, its services and its residents, driven both by the increase in the range of services offered "remotely" and by a greater inclination to use such services by consumers. Banking services are not exempt from this dynamic either.
In light of the health emergency caused by the COVID-19 pandemic, for 75% of Italians (bankers and non-bankers) the possibility of operating remotely with banking institutions represents a very useful solution. This is a percentage that rises to 89% among 30-year-olds. Among the most popular methods are internet and mobile banking, in use at 81% and 80% respetively.
For 1 in 4 current account holders, over the next 6 months, there will be an increase in the occasions when they will use online banking (from a PC or laptop). On the other hand, 22% of current account holders expect to use mobile banking services more intensively (with app access on smartphones or tablets). At the same time, access to banking services at branches is expected to decrease, an action that will affect 38% of current account holders (45% if we look at the youngest, under 30).