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8 statistics on digital banking

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Banking is one of the fields that benefits most from and best applies digitization. Many entities have developed online channels to improve their coverage and others offer a very flexible portfolio of services, operating 100% digitally. Both profiles have completely turned the banking industry around. Through the following numbers we will see how relationships between banks and customers are changing at the click of a button and what they can tell us about ourselves as a society.


By 2030, the neobanks sector will reach $2 trillion worldwide. 

In contrast to traditional banking, which relied on a network of physically based offices and required a certain commitment from customers, the last decade has seen the proliferation of so-called neobanks. These entities operate only digitally and offer services at a very low cost. Making flexibility their leitmotiv, they work to cover all customer needs via app 24/7 and do not require permanence or demand commissions. This industry is growing rapidly and, although some brands such as Mitto or Fundsfy have dropped by the wayside, others such as Revolut continue to expand, and it seems that there is still a long way to go before the market goes dry. According to data provided by Statista, it is expected that by 2027 there will be close to 400 million neobank users. 

  1. Asia will reach 1 billion digital banking users by 2024.

The Asian market leads the global ranking in terms of number of online banking users. This staggering figure of one billion indicates that its share of the industry will have increased by 20% in just 4 years. 

  1. One of every four banking customers is a digital entity user.

In a report prepared by N26 and Accenture in December 2021, it was estimated that digital banking was used by 23% of users (based on a survey conducted in 28 countries and considering those who use traditional banking and virtual entities, or only the latter). The growth potential in the medium term, however, would reach 70% (1.4 billion people in these 28 countries), in view of the respondents’ very positive readiness to adopt fully digital functions in their financial routine. Good value for money, an increasingly seamless user experience and simple design are some of the values that customers consider the most when adopting digital banking. 

  1. Over half of digital banking users belong to the middle class.

With slight differences between countries, middle-income citizens seem to dominate the digital banking market worldwide. In Spain, for example, we are talking about 53%, one of the highest rates in Europe. In the United States, where the percentage rises to 62%, the banking system is especially aggressive with the working classes, highly divided and pushed to contract numerous banking products and pay high commissions. It is estimated that each citizen in this country needs between 5 and 7 accounts to manage their money. This in fact is why neobanks even appeared, aimed especially at this target, rectifying the traditional banking methods: unifying savings, spending and loans (which has a positive impact on a society as indebted as the one in the United States) and helping to regain control while reducing financial stress. 

  1. 59% of the people who use digital banking are men.

The gender gap is tending to narrow, and, in some cases, the percentage of women exceeds that of men, as is the case in Brazil (52%). The analysis of digital banking users in Europe shows us this trend of balance, with still some margin for total equality. In Italy, women account for 45% of users, 44% in Denmark and Sweden, 43% in Ireland and 42% in Spain. According to the World Bank, women represent almost 60% of the world’s unbanked population, something that digital banking can help level out through its ability to reach all social classes and locations, with affordable products for any profile.  

  1. Brazil leads the ranking of digital-only banking users.

According to a survey launched by Finder in April 2022, with 42% the South American giant is at the top of the list of digital banking users, followed by India (26%), Ireland (22%), Singapore (21%) and Hong Kong (20%). The report highlights the poor performance of the United States, where only 8% of adults claim to have an all-digital bank account. The Philippines and Malaysia with 13% or Portugal and Germany with 14% also show that traditional banking still has a relevant weight in the financial organization of citizens. 

  1. Mexico: 24% potential growth between 2022 and 2027.

Strong investments in infrastructure and the consolidation of a digital financial culture predict that Mexico will lead the ranking of people with digital-only bank accounts in the next five years. Next on the list would be the United Arab Emirates (22%), the Philippines (21%) and India (19%). 

  1. 89% of young people access their financial services via app.

When it comes to data on digital banking penetration, we cannot ignore the fact that the elderly continue being the most affected by an industry acceleration that often does not take their needs into account. The closure of branches (more than half in Spain in recent years) and the reduction of face-to-face business hours force an adjustment that is not always easy, especially in rural and isolated areas. The generation gap, according to the study “Consumer Trends in Digital and Mobile Banking” developed by MX Technologies, is still remarkable. Sixty-eight percent of the people in the survey use a mobile application to manage their finances, but if we look at the percentages by age group, we find significant differences. In the so-called generation Z or centennials, those born between 1995 and 2005, the number rises to 89%. This figure drops progressively as the user’s age increases, down to 39%, which would correspond to baby boomers (born between 1946 and 1964). 

By adapting to change, improving ways to replace the physical presence of employees and understanding the needs of consumers, digital banking will continue to grow as a driver of development. As shown by the statistics we have broken down, the predisposition of the public is more than positive in terms of integrating digital financial services in their daily lives, which means that institutions and technology providers have a solid ground to take advantage of the industry’s projection, while delivering quality of life. 

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