This year, we expect there will be 196.8 million
users in the United States, representing 75.4% of the population. By 2022, the number of digital banking users will exceed 200 million and steady growth will continue throughout the forecast period.
For the most part, younger consumers are more likely to access their bank accounts online than their older cohorts. However, the pandemic has caused older people to recover this way.
According to data from iResearch Services, more than 90% of people over the age of 60 used online banking for the first time during the pandemic, highlighting the importance for banks to get digital banking services properly by 2021.
Many large banks, including Chase, Wells Fargo and Bank of America, have reported an increase in the number of active and mobile users, and are continually looking for ways to innovate and improve their digital presence, not just to engage their customers. current, but also to attract new customers.
More to learn
Do you want to know more about the banking area? Here are some related reports that you might be interested in:
- The rise of banking as a service, which examines five top BaaS vendors, ranging from fintechs to 20-year-old legacy vendors who we believe represent a good cross-section of approaches to offering BaaS.
- AI in banking, which identifies the most significant AI applications in the front and middle office of banks.
- The Global Neobanks Report, which explores the rapidly growing neobank market and what’s in store as the industry moves from hyper-growth to sustainability. Learn more about the financial services industry.