While nearly half of all U.S. consumers believe nontraditional providers will drive innovation in the financial services industry, only 38 percent said they would consider a nontraditional provider for future financial services needs, according to a survey from Raddon Financial Group, a leading provider of financial industry research and trends data.

Raddon also found that the likelihood of using a nontraditional provider such as PayPal, Amazon, Apple or Google broke down sharply along generational lines, with younger consumers much more likely to consider doing so.

"U.S. consumers continue to trust that banks and credit unions will provide them with the highest quality and most secure financial services available, and they believe that the emergence of nontraditional financial service providers has the potential to drive innovation in the industry," said Bill Handel, vice president of research for Raddon Financial Group. "Innovation is essential if banks and credit unions want to remain at the center of consumer’s financial lives, as younger consumers have no qualms about going elsewhere if their demand for digital and mobile financial services are not being met."

Optimism about the growth of mobile payments broke down along generational lines, as well. Twenty percent of consumers expect mobile payments to become a major source of in-store payments within five years; 10 percent of traditionalists (born between 1922 and 1945), 19 percent of baby boomers, 17 percent of Gen Xers and 32 percent of millennials agree.

While 49 percent of those surveyed believe that nontraditional providers will have an impact on how all providers deliver financial products and services, only 38 percent said they would consider using a nontraditional provider. When asked which nontraditional providers they were most likely to use, 26 percent said PayPal; 19 percent said Amazon; 16 percent said Apple; and 16 percent said Google.

The Raddon survey explored attitudes among four generations of Americans toward traditional and nontraditional providers. It was conducted online with 1,200 U.S. adults in February.