An online survey from a California-based digital card services firm has found that a majority of respondents would consider financial products from a tech company instead of a bank or credit union.

Conducted by The Harris Poll on behalf of Ondot Systems, which provides a platform for credit and debit issuers, the survey asked more than 2,000 U.S. adults about consumer attitudes toward Big Tech and financial services products.

Survey results showed that 64 percent of respondents would consider purchasing or applying for financial products from a tech company instead of a traditional financial services provider. This figure rose to 81 percent for those between the ages 18 to 34 and to 79 percent for respondents aged 35 to 44.

Nearly three-quarters of those surveyed (72 percent) agreed with the statement that tech companies, such as Google, Apple, Amazon and Facebook, entering financial services would threaten the existence of smaller banks and credit unions.

“Smaller financial institutions need to close the technology gap with large technology companies or many of their customers could be tempted to leave,” Vaduvur Bharghavan, CEO of Ondot Systems, said in a statement. “Americans – especially younger ones – are receptive to new financial services offerings from technology companies, and smaller banks and credit unions are especially vulnerable.”

The survey found that a majority (64 percent) believe if technology companies competed head-to-head with traditional financial services providers, financial products would improve. Those between the ages of 18 and 44 would consider purchasing or applying for a financial product from a tech company because they provide products that are more convenient to use (35 percent), have tools to make it easier to stay on top of budgeting and spending (30 percent) and better technology/digital features (28 percent).

“Technology companies have spent years and billions of dollars designing customer-centric platforms that deliver an easy user experience, Apple Card’s instant issuance feature being a recent example,” Bharghavan said. “As a result, consumers have incredibly high expectations of the companies with which they do business, including financial institutions.”

Despite a willingness to try financial services offered by technology companies, many survey respondents indicated skepticism with how their personal information might be used, with 74 percent agreeing that tech companies are more likely to sell an individual’s personal financial data than traditional financial services providers like banks and credit unions.

Ondot recently launched Card App, a product that enables any bank or credit union to brand and deliver an Apple Card-like experience for its credit and debit card portfolios, including instant card signup, wallet provisioning, spending insights and self-service.

The online survey, conducted at the end of January, was not based on a probability sample and no margin of error was calculated.