Business Services Industry
European Internet banking popularity set to rise says Forrester
Internet Business News, March 20, 2003
INTERNET BUSINESS NEWS-(C)1995-2003 M2 COMMUNICATIONS LTD
Research company Forrester Research has published a report showing that there are currently 60m Europeans utilising online banking.
This means that one out of every five Europeans bank online yet that figure is expected to rise to a total of 130m by 2007 - an annual compound growth rate of 21% for the next five years. The growth rate is reportedly not as high as it has been yet this is thought to be down to higher penetration levels in the UK, Germany and the Nordic region.
In Britain there are currently 13.2m people using online banking - this figure is expected to rise to 19.5m in 2007.
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