Trust in financial transaction providers : A qualitative study of Swedish Millennials and the trust they place in banks and alternative financial transaction providers.

Abstract: Purpose: Firstly, to investigate if the decline of trust in traditional financial transaction providers, namely banks, has resulted in an increase of trust in Alternate Financial Transaction Providers (AFTP). Secondly, to identify antecedents to building trust in AFTP held by Swedish Millennials. Methodology: Qualitative research consisting of focus groups were used to collect primary data. A total of three focus group were held, excluding a trial session. Participants in the focus groups were Swedes between 22 and 30 years of age (Swedish Millennials). Findings: That trust in banks amongst Swedish Millennials is decreasing. Concurrently, there is a general willingness of Swedish Millennials to trust AFTP given the presence of certain antecedents (human, technological and organisational).