One in five Europeans banks online, and that number will double to 130 million in 2007, according to a new report from Forrester Research.
The study suggests that some 60 million European surfers make use of internet banking services with Scandanavian and Dutch internet users most likely to pursue this activity. This backs up the findings of recent analysis by Nielsen//NetRatings (see
Over 18m Europeans Bank Online, Sweden Leads The Way) although growth is now more pronounced in Southern Europe.
“Net bankers represented 37% of net users at the end of 2002, and online banking services now attract 18 percent of all European adults,” said Forrester analyst Charlotte Hamilton. “Their number has more than doubled in the past two years as banks have improved their sites and promoted net banking.”
Over the next five years, overall growth will slow to a 21% CAGR as penetration subsides in the Nordics, Germany and the UK. However, Forrester’s estimate of 130 million online bankers by 2007 shows that the profile of the sector is rising.
