60 Million+ Europeans Bank Online
Posted: 20th Mar, 2003 By: MarkJ
Forrester Research reports that over 60 Million (one in five) Europeans currently bank online and that number is expected to more than double by 2007 (130 Million):
However, over the next five years, growth will slow to a 21 per cent CAGR, as penetration subsides in Scandinavia, Germany, and the UK.
Online bankers represented 37 per cent of internet users at the end of 2002, and online banking services now attract 18 per cent of all European adults, say the analysts. Their number has more than doubled in the past two years as banks have improved their sites and promoted internet banking.
Southern Europe saw the highest increase in internet banking, with penetration reaching a critical ten per cent in 2002.
The Europemedia item reports that UK growth started to flatten out during last year.
However, over the next five years, growth will slow to a 21 per cent CAGR, as penetration subsides in Scandinavia, Germany, and the UK.
Online bankers represented 37 per cent of internet users at the end of 2002, and online banking services now attract 18 per cent of all European adults, say the analysts. Their number has more than doubled in the past two years as banks have improved their sites and promoted internet banking.
Southern Europe saw the highest increase in internet banking, with penetration reaching a critical ten per cent in 2002.
The Europemedia item reports that UK growth started to flatten out during last year.
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