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According to Online Banking Statistics, Online banking has revolutionized the way people manage their finances by providing convenient access to banking services through digital platforms.
It allows users to perform various transactions, such as checking account balances, transferring funds, paying bills, and even applying for loans, all from the comfort of their homes or on the go.
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- As of 2020, the number of online banking users worldwide reached 2.6 billion.
- According to the survey, 47% of consumers cited security concerns as the main reason for not using mobile banking services.
- By 2025, it is estimated that digital banking channels will account for over 90% of banking interactions globally.
- Approximately 82% of traditional banks plan to increase partnerships with fintech companies in the next three to five years.
- In a survey, 76% of online banking users expressed satisfaction with their overall digital banking experience.
- By 2022, it is projected that 56% of global banks will have adopted open banking initiatives.
- Around 77% of financial institutions are expected to integrate AI technologies into their customer service platforms by 2022.
- A survey found that 27% of consumers are interested in using cryptocurrencies for online banking services.
Online Banking General Statistics
- Globally, the number of digital banking users is projected to reach 3.6 billion by 2024.
- In the United States, approximately 73% of adults actively use online banking services.
- Worldwide, the number of mobile banking users is expected to surpass 1.75 billion by 2024.
- In the United States, 76% of adults use mobile banking apps.
- The number of online banking transactions is growing rapidly, with over 85% of banking customers using online channels for various transactions.
- In the UK, banking customers made over 6.3 billion transactions in 2020, representing a significant increase compared to previous years.
- Security remains a top concern for online banking users, with 71% of consumers worrying about the security of their personal information.
- However, 85% of consumers feel that online banking is safe and secure.
- Customer satisfaction with online banking services is high, with 80% of customers expressing satisfaction with their online banking experience.
- In a survey, 68% of respondents rated online banking as their preferred method of banking.
Online banking users worldwide in 2020 with forecasts to 2024, by region
Global Online Banking Adoption
- As of 2021, it is estimated that there are approximately 2.5 billion banking users worldwide.
- The number of global online banking users is expected to reach 3.6 billion by 2024.
- North America: In the United States, around 81% of the population had used banking as of 2020.
- Europe: In Western Europe, the banking penetration rate is around 70%, with countries like Sweden, Denmark, and the Netherlands leading in adoption.
- Asia Pacific: China has a high online banking penetration rate, with over 80% of Chinese internet users engaging in banking activities.
- According to a survey, 54% of global respondents reported increased usage of online banking services during the pandemic.
Mobile Banking Trends
- As of 2021, it is estimated that there are approximately 2.8 billion mobile banking users worldwide.
- The number of global mobile banking users is projected to reach 3.8 billion by 2025.
- In the United States, about 76% of adults use mobile banking apps.
- In the European Union, the mobile banking penetration rate was approximately 48% in 2020.
- The mobile banking adoption rate is high in countries like China and India, driven by the increasing use of smartphones and mobile internet.
- In 2020, mobile banking apps were the most frequently used banking channel globally.
- In 2020, global mobile payment transaction volume reached approximately USD 4.3 trillion, and it is expected to exceed USD 13 trillion by 2025.
- According to a survey, 85% of consumers feel that mobile banking is safe and secure.
Leading Online Banking Platforms
- Chase Bank:
- Online users: Over 51 million.
- Mobile banking users: Over 38 million
- Bank of America:
- Online users: Over 36 million.
- Mobile banking users: Over 28 million
- Wells Fargo:
- Online users: Over 30 million.
- Mobile banking users: Over 23 million
- Citibank:
- Online users: Over 23 million.
- Mobile banking users: Over 16 million
- JPMorgan Chase (JP Morgan Online):
- Online users: Over 51 million.
- Mobile banking users: Over 38 million
- Ally Bank:
- Online users: Over 2.5 million
- Mobile banking users: 1.8 million
- Capital One:
- Online users: Over 14 million.
- Mobile banking users: Over 10 million
Online-only Bank Statistics
- According to a report by McKinsey, the number of customers using digital-only banks worldwide surpassed 39 million in 2020.
- A study by J.D. Power found that digital-only banks have higher customer satisfaction rates as compared to traditional banks. Digital banks scored an average of 865 points out of 1,000 in customer satisfaction.
- In the United Kingdom digital banks accounted for 19% of all new checking accounts opened in 2020.
- Digital banks have gained popularity among the younger generation. A study by Deloitte found that 42% of millennials and 48% of Gen Z customers use a digital-only bank as their primary bank.
- A survey by Cornerstone Advisors revealed that 86% of digital banks offer P2P payments, 75% offer budgeting tools, and 55% offer investment services.
- As of 2021, Chime, a popular digital bank in the United States, reached a valuation of $14.5 billion.
Top Online Banking Apps
- Revolut: As of September 2021, Revolut had over 15 million users globally.
- Chime: Chime, a digital banking platform in the United States, had over 12 million customers as of September 2021.
- N26: N26, a German digital bank, reported having over 7 million customers worldwide as of September 2021.
- Monzo: Monzo, a UK-based digital bank, had over 5 million customers as of September 2021.
- Ally Bank: Ally Bank, an online-only bank in the United States, had approximately 2.5 million customers as of September 2021. (Source: Ally Bank)
- Simple: Simple, a digital banking platform in the United States, had around 2 million customers as of September 2021.
