Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Digital Only Banking Adoption 2021
18% of Hong Kong adults have a digital bank account.
As it stands, 18% of Hong Kong adults have a digital bank account, which equates to 1,134,673 people. That figure is expected to hit 25% (1,596,235) by 2022 and 32% (2,051,387) by the year 2026 – an increase of 14 percentage points over the next 5 years.
Women more likely to have a digital only bank account
Hong Kong women are more likely to have a digital bank account than men, with 19% of women compared to 18% of men saying they have an account.
Around the globe, men are about 2 percentage points more likely to have a digital bank account than women, which means Hong Kong bucks the trend with women roughly a percentage point more likely to have a digital bank account than men.
People aged 25-34 are most likely to bank online
People aged 25-34 are more likely to have a digital bank account, with 20% having an active service.
Which country or region has the most digital bankers?
Brazil has the most digital bankers (32%), followed by Indonesia and Ireland (25% each), Vietnam (23%), and Switzerland and Poland (22% each). On the other end of the spectrum, the United States has the smallest percentage of adults with a digital only bank account (6%), followed by Canada (9%), Finland, Denmark and Mexico (11% each).
Mexico is expected to have the strongest growth in the number of people with digital only bank accounts from 2021 to 2026 – an increase of 20 percentage points. Brazil, Vietnam, Malaysia and the Philippines are all expected to see a growth of 18 percentage points.
Did digital banks lose customers as a result of COVID-19?
Of the 30 countries Finder looked at for this study, Finder had previously run the same survey in 12 of those nations and regions in 2020. Interestingly, 6 out of those 12 countries saw a drop in the number of adults who said they had a digital only bank account.
Germany had the largest drop of 9 percentage points. The Netherlands saw the second-biggest drop of 7 percentage points, while Spain and Mexico closely followed at 6 and 4 percentage points, respectively. Meanwhile, countries like Singapore and Malaysia saw smaller drops of 2 percentage points and less than 1 percentage point, respectively. Bucking the trend, Ireland actually had an extra 10 percentage points of adults with a digital bank account in 2021 compared to 2020, and Brazil had an extra 5 percentage points.
However, all countries are expected to see an increase again by 2026. On average, 28% of people worldwide will have a digital bank account within the next 5 years, up from an average of just 17% in 2021.
Are men or women more likely to have a digital only bank account?
In 19 of the 30 countries surveyed, men are more likely to have a digital only bank account. Of these, the United Arab Emirates, Brazil, Finland and Japan had the biggest gender gaps of 8 percentage points each.
Meanwhile, in 9 countries, women are actually more likely to have an online-only bank account. Australia has a female-led gap of 3 percentage points, and Ireland and Canada both have a gap of 2 percentage points.
More guides on Finder
Finder Cryptocurrency Adoption Index
Finder’s Cryptocurrency Adoption Index measures the growth of cryptocurrencies across the world through a regular survey.
Buy now, pay later (BNPL) stats
The Finder Buy Now, Pay Later (BNPL) report looks into the biggest regrets people have using BNPL services in 23 countries.
Finder Cryptocurrency Predictions Report: October 2020
We asked 30 panellists for their cryptocurrency price predictions, the outlook for DeFi and how long they think high returns on yield farming might last.
Finder’s Bitcoin Predictions Report: December 2020
We asked 47 experts for their cryptocurrency price predictions and took a deep dive into the Bitcoin price rally.
Finder’s Travel Index
Finder’s Travel Index is an ongoing series of surveys conducted in 12 countries to get a beat on the global travel pulse.
Christmas Spending Statistics 2020
47% of Hong Kong adults will spend less this Christmas.
What does the future hold for investments?
Finder speaks with 33 investment experts about what the future of investing might hold.
Investing in the era of COVID-19: Finder’s July Investing report 2020
Finder speaks with investment experts from around the world about what investing looks like in a post-COVID-19 world.
Hong Kong share trading statistics
Coronavirus-induced economic conditions have led to big movements in the global equities market and Hong Kong has not been immune.
Ask an Expert