Digital finance is becoming increasingly mainstream, with 50% of tech-savvy consumers worldwide now using money transfer and payments services, according to EY - findings that come as the fast-growing sector struggles to convince some big banks to buy into its products.

EY interviewed more than 22,000 customers in 20 countries who are active online to compile its FinTech Adoption Index. A third of respondents said they regularly use financial technology services such as online-only banks and mobile payment apps, with China leading the way - 69% of consumers there regularly use these tools.