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 benefits of digital banking platforms is the convenience they offer. With just a few clicks or taps on a mobile device, users can check their account balances, transfer funds, pay bills, and even apply for loans. Gone are the days of waiting in long lines at bank branches or rushing to an ATM before it closes. Digital banks are open 24/7, making it convenient for users to manage their finances at any time of the day or night.

Moreover, digital banking platforms are user-friendly and intuitive, designed to cater to users of all ages and levels of tech-savviness. The interfaces are often simple and easy to navigate, with clear instructions and prompts to guide users through different transactions. This accessibility makes digital banking a viable option for a wide range of individuals, including those who may not be as familiar with traditional banking processes.

Additionally, digital banking platforms offer security features that rival those of traditional brick-and-mortar banks. From multi-factor authentication to encryption techniques, these platforms prioritize safeguarding users’ sensitive financial information. With real-time fraud monitoring and alerts, users can feel secure knowing that their funds and personal data are protected from potential threats.

Another advantage of digital banking platforms is the potential for cost savings. Without the need for physical branches and staff, digital banks can pass on these operational savings to their customers in the form of lower fees and higher interest rates on savings accounts. This can result in significant cost savings for users over time, making digital banking an attractive option for those looking to stretch their dollars further.

Furthermore, digital banking platforms offer a wide array of additional features and services that go beyond basic banking transactions. Users can set up automatic bill payments, create savings goals, track their spending habits, and even invest in stocks or mutual funds—all from within the same platform. This integration of financial services makes managing one’s finances more seamless and efficient, empowering users to take control of their financial future.

Overall, the usefulness of digital banking platforms cannot be understated. From convenience and accessibility to security and cost savings, these platforms offer a myriad of benefits that cater to the needs and preferences of modern consumers. As technology continues to advance and evolve, digital banking will only become more essential in helping individuals navigate the complexities of personal finance.

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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