German Online Banking Forecast: 2007 To 2012

November 20th, 2007

Tim van Tongeren

Benjamin Ensor

With contributors:

Michelle de Lussanet , Alexander Hesse , Ashara Giordanelli

Summary

Online banking has taken off in Germany — 39% of Germans now bank online. We expect online banking to grow by about 4% each year as a result of a gradual increase in Net users' confidence in the channel, banks' robust security measures, and strong competition for retail banking customers. We expect 32 million Germans to bank online by 2012, or 47% of adults. To get current holdouts to start using online banking, banks should keep security as a top priority and give customers clear incentives like reduced fees or better interest rates for banking online.

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