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]

Also Read

How Useful is Digital Banking Platforms

One of the key advantages of digital banking platforms is their convenience. Gone are the days of having to visit a physical branch during limited banking hours to conduct everyday financial transactions. With online banking, customers can access their accounts 24/7 from the comfort of their own home or on the go through mobile apps. This flexibility allows individuals to check their account balances, pay bills, transfer funds, and manage their investments with a few simple clicks, saving valuable time and eliminating the need for unnecessary trips to the bank.

Moreover, digital banking platforms offer enhanced security features that help protect customers’ sensitive information and financial data. Encryption technology, two-factor authentication, and biometric verification methods have made online transactions more secure than ever before. Customers can also set up alerts and notifications to monitor their account activity and detect any fraudulent transactions quickly. This added layer of security gives consumers peace of mind knowing that their personal and financial information is safe and protected from cyber threats.

Another significant benefit of digital banking platforms is the accessibility of financial services for underserved communities. Online banking has made financial services more inclusive and globally available, breaking down barriers to entry for individuals who may not have access to traditional banking services. Digital platforms provide greater flexibility for individuals living in remote areas or those with physical limitations to manage their finances conveniently using connected devices.

In addition to convenience and accessibility, digital banking platforms offer a range of useful tools and features to help customers better manage their finances. Budgeting tools, expense tracking, and personalized financial insights help individuals understand their spending habits, set financial goals, and make informed decisions about their money. Moreover, automated bill payments, recurring transfers, and mobile check deposits streamline everyday banking tasks, making it easier for customers to stay on top of their financial responsibilities.

Overall, digital banking platforms have proven to be invaluable tools for consumers seeking a more efficient and secure way to manage their finances. The convenience, accessibility, security, and innovative features of online banking make it a compelling choice for individuals looking to take control of their financial health and simplify their banking experience. As technology continues to advance, digital banking platforms will likely evolve to offer even more advanced and user-friendly features, further solidifying their importance in the modern banking landscape.

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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