Share of people using internet banking in Great Britain 2007-2019

Online banking penetration in Great Britain from 2007 to 2019

by James Cherowbrier, last edited Sep 16, 2019
Share of people using internet banking in Great Britain 2007-2019 This statistic illustrates the share of individuals using online banking regularly in Great Britain from 2007 to 2018. Banking and financial services are typically among the first industries to embrace technological advances; starting as far back in time as the appearance of automated teller machines (ATMs) and credit cards. Ever since the first secure Internet systems for financial operations became available on a large scale, accessing of one's bank account online to carry out transactions, pay off credit cards, establish credit lines or invest savings became one of the fastest growing areas of Internet activities.
Mobile banking has become the new norm

In the UK, online banking use increased during the period under observation: already 30 percent of respondents reported accessing their bank account online within three months prior to the survey in 2007. The growth in this activity area was steady over time, and the share rose to 69 percent of individuals who used online banking regularly as of 2018. In terms of device use for online banking, the smartphone was the preferred method. Further digital banking advancements joined online banking solution in recent years: the current growth is noted in the areas of mobile banking, mobile banking apps, digital wallet and Fintech solutions directed to individual users.

Online banking in Europe

Across Europe, the variation in the online banking penetration is huge. As of 2018, Nordic countries including Norway, Denmark, Finland and Sweden all had online banking penetration rates of over 80 percent. In stark contrast, North Macedonia, Romania and Bulgaria had penetration rates lower than 10 percent.
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Online banking penetration in Great Britain from 2007 to 2019

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