Global Financial Behaviour: E-banking

Banking online is an increasingly common means for consumers to manage their financial affairs. In the USA and the bigger western European markets it is already well established. In the US, 79% of consumers have conducted online banking in the past year and in Britain and France the figures are 63% and 55% respectively. Whilst lower, the figures for Germany and Spain are still broadly comparable to their European neighbours, at 44% and 40% respectively. Similarly, in China the figure is 45%. 

Indeed, China is far ahead of some of the other dynamic emerging markets. In Brazil only 14% of adults undertake e-banking and in India it is a consideration when opening an account for only 3% of adults. However, in Russia internet banking is considered important (or very important) by 57% of adults when choosing a bank account.

These very different rates of adoption of online banking show the importance of tailoring products and services – and by extension the communication of these - appropriately by market.

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