The five biggest trends in European online banking
The European market is one of the most developed in the world and has a heavy tradition in banking. Has online banking followed that historical trend? Patrick Brusnahan reports
Online and mobile banking is slowly becoming the norm. Some markets are adopting it quicker than others, but it is here to stay.
58.5% of Europeans use online banking daily or weekly
GlobalData took an in-depth look at online banking in Europe over 11 countries. These countries included Belgium, France, Germany, Italy, the Netherlands, Spain, UK, Norway, Sweden, Denmark and Ireland.
58.5% of respondents in these countries stated that they use mobile banking daily or weekly. The most frequent online bankers were in Norway at 62.3%, closely followed by Belgium at 61.6%.
The least frequent online bankers were in Italy. Only 50.9% used online banking daily or weekly. However, 25.3% of them did use online banking monthly.
Mobile banking is used either daily or weekly by 42% of Europe
Across the 11 countries, an average of 42% of Europe used mobile banking on a fairly regular basis. Sweden was top with 56% and its Scandinavian cousin Norway followed at 52.7%. Germany was shockingly low at 21%, as was France at 34%.
France and Spain spend the most time using online banking
According to comScore, France and Spain spend the most time of all countries per month on online banking sites.
Online visitors in the UK spent 48 minutes on average per month, Germany spent 46 minutes per month and in last position was Italy with 42 minutes.
Spain was also top of the class for looking at financial information and advice sites, as well as news or research.
January when most use online banking
The UK, France and Germany saw most online banking usage in the month of January. This is likely due to New Year’s resolutions or budgeting for the year ahead.
Also, according to comScore, Spain had its most online banking activity in the month or May, while Spain had its in October.
Consumers are the most multi-platform in Spain
In Spain, 48% of consumers access online banking services across platforms. 48% are mobile-only users.
However, only a startling 4% in Spain are desktop-only.
The UK is fairly multi-platform at 45%. 39% are mobile-only and 16% are desktop-only. France isn’t too different as 42% are multi-platform, 33% are mobile-only, and 25% are desktop-only.
Unsurprisingly, Germany has the largest number of people that are desktop-only, 40% of the country to be exact. 38% are multi-platform and mobile-only is the lowest segment at 22%.
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