Digital Banking Platforms Statistics


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Digital Banking Platforms Statistics 2023: Facts about Digital Banking Platforms outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Digital Banking Platforms, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Digital Banking Platforms Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Digital Banking Platforms Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 22 Digital Banking Platforms Statistics on this page 🙂

Digital Banking Platforms “Latest” Statistics

  • Eighty percent of US institutions had online banking services by 2006.[1]
  • Between 2009 and 2019, the proportion of EU nationals who use internet banking doubled.[1]
  • 89% of Americans with bank accounts use mobile banking to manage their accounts.[1]
  • Throughout the course of a year, there were fewer than 1,500 total branches in the US financial sector.[1]
  • 94% of users of mobile banking utilize online banking services at least once each month.[1]
  • By 2023, it is predicted that the banking sector will have saved $7.3 billion in yearly customer service costs because of the use of chatbots.[1]
  • According to statistics on digital banking, by 2024 there will be more than 3.6 billion users worldwide of online and mobile banking.[1]
  • Cybercrimes cost banks around the world more than $1 trillion annually.[1]
  • By 2023, chatbots will help online banks save $7.3 billion.[2]
  • From 2007 to 2018, European internet banking more than doubled.[2]
  • The Netherlands and Denmark have the greatest adoption rates for online banking.[2]
  • 39% of people use banking apps as their main banking method.[2]
  • By 2025, there will be 216.8 million users of digital banking in the US.[2]
  • By 2024, there will be more than 3.6 billion users of online banking worldwide.[2]
  • 25% of clients like visiting bank locations over using internet banking.[2]
  • India is the world leader in mobile banking.[2]
  • Federal Reserve reports that in 2018, 24% of small firms in the U.S. sought loans online, a considerable increase from 21% in 2017.[3]
  • In order to collaborate with other industries for growth, 47% of the financial services organizations surveyed by PwC in June 2019 indicated that they would work with a fintech company.[4]
  • 25.2% of US households, according to the most recent FDIC “National Survey of Unbanked and Underbanked Households,” published in October 2018, were either unbanked or underbanked, meaning they may have had bank accounts but continued to use financial services from sources outside the banking system to get by.[4]
  • According to a Pureprofile poll for Finder.com in August 2019, 21.4% of US internet users between the ages of 18 and 91 had already utilized neobanks.[4]
  • According to the Tracker, 27% of American customers have accounts with banks that only have an internet presence.[5]
  • In October 2022, 97 million consumers nationwide utilized a device, app, or website to monitor their health or vitals at least once, and that figure is rising.[5]

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How Useful is Digital Banking Platforms

One of the main advantages of digital banking platforms is the convenience they offer. With just a few clicks on your computer or smartphone, you can manage your accounts, transfer money, pay bills, and even apply for loans. Gone are the days of waiting in long lines at the bank or rushing to get there before they close. With digital banking, you can access your accounts anytime, anywhere, making it easier to stay on top of your finances.

Another benefit of digital banking platforms is the increased transparency they provide. With real-time updates on your transactions and account balances, you can easily track your spending and monitor your financial health. You no longer have to rely on monthly paper statements or visits to the bank to stay informed about your money.

Digital banking platforms also offer a wide range of tools and features that can help you better manage your finances. Budgeting tools, spending trackers, and savings goals are just a few examples of the tools available to help you reach your financial goals. These features can empower you to take control of your money and make smarter financial decisions.

In addition to convenience and transparency, digital banking platforms are also often more secure than traditional brick-and-mortar banks. With advanced encryption technology and multi-factor authentication, many digital banking platforms offer a high level of security to protect your sensitive financial information. This can give you peace of mind knowing that your money is safe and secure.

Despite these advantages, there are some limitations to digital banking platforms that must be considered. For one, not everyone has access to the internet or smartphones, making digital banking inaccessible to some individuals. Additionally, some people may be hesitant to trust online banking due to concerns about cybersecurity and potential data breaches.

Furthermore, while digital banking platforms offer many useful tools and features, they may not always be as personalized or tailored to individual needs as in-person banking. Some people may prefer the human touch and face-to-face interactions that come with traditional banking, especially when dealing with complex financial matters or issues.

In conclusion, while digital banking platforms offer many benefits in terms of convenience, transparency, and security, they are not without their limitations. It is important for individuals to weigh the pros and cons of using digital banking platforms and determine what works best for their own financial needs and preferences. Ultimately, digital banking platforms can be a valuable tool for managing your finances, but they may not be the right fit for everyone.

Reference

  1. fortunly – https://fortunly.com/statistics/online-mobile-banking-statistics/
  2. moneytransfers – https://moneytransfers.com/news/content/online-banking-statistics
  3. alliedmarketresearch – https://www.alliedmarketresearch.com/digital-banking-platforms-market
  4. insiderintelligence – https://www.insiderintelligence.com/content/seven-charts-the-state-of-digital-banking-in-2020
  5. pymnts – https://www.pymnts.com/news/digital-banking/2022/the-data-point-nearly-50-pct-consumers-highly-interested-in-digital-only-banking/

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