One in five Europeans banks online, and that number will double to 130 million in 2007, according to a new report from Forrester Research.
“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.