Compared with some other industries, the banking sector is successfully adopting mobile technology, yet barriers remain, with different age groups reporting different reasons for not using mobile banking
LONDON, June 14, 2018 /PRNewswire/ -- comScore today announced it has published its 2018 "Online Banking in Europe" report, which uses multi-platform data from five European countries (France, Germany, Italy, Spain and the UK) to highlight online trends impacting the banking sector, outlining key differences in consumers' behavioural patterns.
Online banking adoption is relatively high in Europe but still has plenty of room for growth; digital consumers in Spain were the most likely to visit banking sites or apps: 85 percent of the adult digital population did so in March 2018. Germany had one of the lowest ratios, at 61 percent, but had the largest market, with 33 million visitors of online banking sites or apps in March 2018. Also, seasonality of online banking usage varied between countries: peak activity occurred in the month of January in France, Germany and the UK. In Spain that peak was in May, while in Italy it was in October.
"The banking sector is transforming itself quickly, fuelled by changes in the competitive landscape, the technology landscape (think fintech), and consumer behaviour," said Guido Fambach, senior vice president, EMEA at comScore. "The 2018 'Online banking in Europe' provides a great overview of the current state of online banking. Last but not least, the report includes valuable marketer data about the heavy users of online banking services."
Insights included in the Report include:
- Penetration of mobile banking was highest in Spain and Italy: in March 2018, 48 percent of digital consumers were accessing banking services through smartphones or tablets almost exclusively.
- Heavy users represent 20 percent of the online banking audience, but 71 percent of the total time spent on the sites. The probability to find heavy users in different site categories varies widely. For example, in France they are 2.2 times more likely to be found on automotive sites than on social media sites.
comScore (NASDAQ:SCOR) is a leading cross-platform measurement company that measures audiences, brands and consumer behavior everywhere. Built on precision and innovation, comScore's data footprint combines proprietary digital, TV and movie intelligence with vast demographic details to quantify consumers' multiscreen behavior at massive scale. This approach helps media companies monetize their complete audiences and allows marketers to reach these audiences more effectively. With more than 3,200 clients and a global footprint in 70 countries, comScore is delivering the future of measurement. For more information on comScore, please visit comscore.com.