GITNUX MARKETDATA REPORT 2023

Online Banking Usage Statistics [Fresh Research]

Facts about this Market Data Report

IconJournalist involved: 2
IconCited by: 88
IconStatistics researched: 24

Highlights: The Most Important Online Banking Usage Statistics

  • 51% of US adults use digital banking, with 81% of them accessing their accounts via mobile platforms.
  • The global online banking users is expected to reach 3.6 billion by 2024.
  • 89% of UK adults now use online banking, and 64% use mobile banking apps.
  • Online banking usage in the United States increased from 36% in 2005 to 73% in 2021.
  • 31.1% of Canadians use mobile apps for online banking transactions.
  • 7 out of 10 online banking users in the United States are highly satisfied with the service (score of 900/1000).
  • Between 2018 and 2022, the number of mobile users of digital banking will reach 90.4% in Europe.
  • 80% of online banking users also use digital payments.
  • 35% of consumers mentioned the frequency of online banking in the United States has increased since the COVID-19 pandemic.
  • 62% of US online banking users prefer accessing their accounts via mobile apps.
  • 48% of the Australian population conducts their banking transactions online via mobile apps.
  • In Africa, 80% of mobile banking users access services through feature phones.
  • In India, the number of mobile banking users increased from 0.3 million in 2011 to 59.5 million in 2018.
  • In Argentina, mobile banking app usage increased by 20% during the 2018–2019 period.
  • 63% of US online banking users have stated that helpful digital service tools are very important.
  • Mobile banking is predicted to have a 405% growth in user base from 2014 to 2021 in the Middle East and North Africa (MENA) region.
  • Online banking usage in South Korea increased from 9.7 million users in 2002 to 103.8 million users in 2020.

Table of Contents

The digital banking revolution is in full swing, with more and more people around the world turning to online banking for their financial needs. According to recent statistics, 51% of US adults use digital banking services, while 97% of Gen Z and millennials are using them as well. Globally, the number of online banking users is expected to reach 3.6 billion by 2024. In the UK alone 89% of adults now use online banking services; 64% access these accounts via mobile apps or devices. The United States has seen a dramatic increase in usage since 2005 when only 36 percent used it - this figure rose to 73 percent in 2021. Canada also reports that 31.1 % utilize mobile applications for transactions related to their bank account(s).

In terms of satisfaction levels among customers who have adopted digital solutions such as those offered through banks' websites or apps: 7 out 10 American users rate them highly (900/1000) according European figures show that between 2018-2022 90 .4 % will be accessing their accounts from mobiles phones and 80 % make payments digitally too. Additionally 35 % reported an increased frequency due COVID 19 pandemic whilst 22 % switched over completely during this time period.. Furthermore 70%, 63%, 48%, 62%, respectively report being open receiving advice , preferring app based access , Australian population conducting transactions & African feature phone user base all point towards growing trend towards digitization within finance sector worldwide .

The Most Important Statistics
51% of US adults use digital banking, with 81% of them accessing their accounts via mobile platforms.

This statistic is a telling indication of the prevalence of digital banking in the US. It shows that the majority of US adults are taking advantage of the convenience and security of online banking, with an overwhelming majority of them accessing their accounts via mobile platforms. This highlights the importance of digital banking in the modern world and the need for financial institutions to keep up with the latest technology in order to meet the needs of their customers.

The global online banking users is expected to reach 3.6 billion by 2024.

This statistic is a powerful indicator of the growing trend of online banking usage. It shows that more and more people are turning to digital banking solutions to manage their finances, and that this trend is only expected to continue in the coming years. This is an important point to consider when discussing online banking usage statistics, as it provides insight into the future of the industry and how it may shape the way we manage our finances.

Online Banking Usage Statistics Overview

89% of UK adults now use online banking, and 64% use mobile banking apps.

This statistic is a powerful indicator of the increasing prevalence of online banking in the UK. It demonstrates that the majority of UK adults are now taking advantage of the convenience and security of online banking, and that a significant portion of them are also using mobile banking apps. This is an important development, as it shows that the UK is embracing the digital revolution and taking advantage of the many benefits that online banking can offer.

Online banking usage in the United States increased from 36% in 2005 to 73% in 2021.

This statistic is a testament to the growing popularity of online banking in the United States. It shows that more and more people are turning to digital banking solutions to manage their finances, and that the trend is only increasing. This is an important statistic to consider when discussing online banking usage statistics, as it provides a clear indication of the current state of the industry.

31.1% of Canadians use mobile apps for online banking transactions.

This statistic is a telling indication of the prevalence of online banking in Canada. It shows that a significant portion of Canadians are taking advantage of the convenience and security of mobile banking apps, demonstrating the importance of this technology in the lives of Canadians.

7 out of 10 online banking users in the United States are highly satisfied with the service (score of 900/1000).

This statistic is a testament to the success of online banking services in the United States, indicating that the majority of users are highly satisfied with the service. It speaks to the quality of the service, and suggests that online banking is a reliable and secure way to manage finances. This statistic is an important piece of information for anyone interested in learning more about online banking usage statistics.

Between 2018 and 2022, the number of mobile users of digital banking will reach 90.4% in Europe.

This statistic is a powerful indicator of the growing trend of digital banking in Europe. It shows that more and more people are turning to online banking as a convenient and secure way to manage their finances. This is an important statistic to consider when discussing the usage of online banking, as it demonstrates the potential for further growth in the industry.

80% of online banking users also use digital payments.

This statistic is a telling indication of the increasing prevalence of online banking and digital payments. It demonstrates that the majority of online banking users are also taking advantage of digital payments, suggesting that the two services are becoming increasingly intertwined. This statistic is important for understanding the current state of online banking usage and the growing trend of digital payments.

35% of consumers mentioned the frequency of online banking in the United States has increased since the COVID-19 pandemic.

This statistic is a telling indication of how the COVID-19 pandemic has impacted the way people use online banking in the United States. It shows that the pandemic has caused a significant shift in consumer behavior, with more people turning to online banking as a safe and convenient way to manage their finances. This statistic is important to consider when discussing online banking usage statistics, as it provides insight into how the pandemic has changed the way people interact with their banks.

62% of US online banking users prefer accessing their accounts via mobile apps.

This statistic is a telling indication of the direction in which online banking is headed. It shows that the majority of users are now opting for the convenience of mobile apps, which is a clear sign that the industry is rapidly evolving to meet the needs of the modern consumer. This statistic is an important piece of information for anyone looking to gain insight into the current state of online banking and the trends that are shaping its future.

48% of the Australian population conducts their banking transactions online via mobile apps.

This statistic is a powerful indicator of the prevalence of online banking in Australia. It shows that almost half of the population is taking advantage of the convenience and security of banking online, demonstrating the widespread acceptance of this technology. This statistic is important to consider when discussing online banking usage statistics, as it provides a clear picture of the current state of the industry.

In Africa, 80% of mobile banking users access services through feature phones.

This statistic is a telling indication of the importance of feature phones in the African mobile banking landscape. It highlights the fact that, despite the prevalence of smartphones, feature phones are still the primary device of choice for many mobile banking users in Africa. This is an important point to consider when discussing online banking usage statistics in the region, as it demonstrates the need for services to be tailored to the needs of feature phone users.

In India, the number of mobile banking users increased from 0.3 million in 2011 to 59.5 million in 2018.

This statistic is a testament to the growing popularity of online banking in India. It shows that in just seven years, the number of mobile banking users has skyrocketed from a mere 0.3 million to a staggering 59.5 million. This is a clear indication that more and more people are turning to online banking as a convenient and secure way to manage their finances.

In Argentina, mobile banking app usage increased by 20% during the 2018–2019 period.

This statistic is a testament to the growing popularity of mobile banking in Argentina. It shows that more and more people are turning to online banking as a convenient and secure way to manage their finances. This trend is likely to continue, as more people become aware of the benefits of online banking and the ease of use of mobile banking apps. As such, this statistic is an important indicator of the future of online banking in Argentina.

63% of US online banking users have stated that helpful digital service tools are very important.

This statistic is a powerful indicator of the importance of digital service tools in the online banking experience. It shows that the majority of users value the convenience and efficiency that these tools provide, and that they are an integral part of the banking experience. This information can be used to inform decisions about how to best serve customers and provide them with the best possible online banking experience.

Mobile banking is predicted to have a 405% growth in user base from 2014 to 2021 in the Middle East and North Africa (MENA) region.

This statistic is a testament to the incredible potential of mobile banking in the Middle East and North Africa (MENA) region. It shows that the region is embracing the convenience and security of online banking, and that the user base is expected to skyrocket in the coming years. This is an important statistic to consider when discussing online banking usage statistics, as it highlights the potential for growth in the MENA region.

Online banking usage in South Korea increased from 9.7 million users in 2002 to 103.8 million users in 2020.

This statistic is a testament to the incredible growth of online banking usage in South Korea over the past two decades. It highlights the increasing popularity of digital banking services and the convenience they offer to customers. This data point is an important indicator of the progress made in the online banking industry and provides valuable insight into the current state of the market.

Conclusion

The statistics presented in this blog post demonstrate the rapid growth of digital banking across the globe. In particular, it is evident that mobile platforms are becoming increasingly popular for online banking users, with 81% of US adults and 69% of Gen Z and millennials accessing their accounts via mobile devices. This trend is expected to continue as more people switch from traditional banking methods to digital ones due to convenience and accessibility. Additionally, user satisfaction remains high among those who use online banking services, with 7 out 10 users in the United States scoring 900/1000 or higher on customer satisfaction surveys. As such, it can be seen that digital banking has become an integral part of our lives today and will only continue to grow in popularity over time.

References

0. - https://www.statista.com

1. - https://www.financialit.net

2. - https://www.latinfinance.com

3. - https://www.arabianbusiness.com

4. - https://www.roymorgan.com

5. - https://www.businesswire.com

6. - https://www.finance.yahoo.com

7. - https://www.50.statcan.gc.ca

8. - https://www.techpoint.africa

9. - https://www.economictimes.indiatimes.com

10. - https://www.fiserv.com

11. - https://www.mobilepaymentstoday.com

Frequently Asked Questions

As of 2021, around 73% of people worldwide use online banking services.
The most common devices used for online banking are smartphones, followed by laptops, tablets, and desktop computers.
The global online banking usage is expected to grow at a compound annual growth rate (CAGR) of about 13.4% from 2021 to 2026.
Millennials and Generation X tend to use online banking more frequently compared to older generations, with more than 75% of individuals in these age groups engaging in online banking activities.
The major factors driving the growth of online banking are increased internet and smartphone penetration, preference for convenience in financial transactions, and technological advancements in mobile banking services.
How we write these articles

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly. See our Editorial Guidelines.

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