Forrester issues new report claiming European Internet banking may reach 110m customers by 2005

Internet Business News, Dec 12, 2001

INTERNET BUSINESS NEWS-(C)1995-2001 M2 COMMUNICATIONS LTD

According to a new report from emerging-technology research firm Forrester Research Internet banking has the potential to reach 110m Europeans by 2005.

The report shows that currently 1m new customers per month are signing up for Internet banking in Europe. In total 42m people, or 14% of all European adults, are using some form of online banking at present. Given these growth figures analysts at Forrester claim that 110m may be banking on the Internet in Europe by 2005.

Forrester has also stated however that it believes that only sustained innovation will maintain the current growth curve.

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