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Digital Only Banking Adoption 2021
25% of Irish adults have a digital bank account.
As it stands, 25% of Irish adults have digital bank accounts in Ireland, which equates to 932,204 people. That figure is expected to hit 31% (1,155,376) by 2022 and 35% (1,334,892) by the year 2026 – an increase of 11 percentage points (10.7%) over the next 5 years.
Women more likely to have a digital only bank account
Irish women are more likely to have a digital bank account than men, with 26% of women compared to 24% 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 Ireland bucks the trend with women roughly 2 percentage points 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 29% having an active service.
Which country 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.
- The Philippines: A convenience sample of 2,023
- Singapore: A convenience sample of 1,003
- Malaysia: A convenience sample of 1,503
- Hong Kong: A convenience sample of 1,000
- Ireland: A convenience sample of 1,215
- Canada: Representative sample of 1,200
- United States: Representative sample of 2,001
- Australia: Representative sample of 954
- New Zealand: A convenience sample of 1,001
- United Kingdom: Representative sample of 2,001
- United Arab Emirates: A convenience sample of 1,002
- Japan: Representative sample of 2,001
- Indonesia: A convenience sample of 2,004
- Vietnam: A convenience sample of 2,001
- France: Representative sample of 1,505
- Italy: A convenience sample of 1,510
- The Netherlands: A convenience sample of 1,201
- Mexico: Representative sample of 2,001
- Spain: Representative sample of 1,515
- Brazil: Representative sample of 2,048
- Germany: Representative sample of 2,002
- Austria: A convenience sample of 1,215
- Switzerland: A convenience sample of 874
- Sweden: A convenience sample of 839
- Portugal: A convenience sample of 1,202
- Poland: A convenience sample of 817
- Norway: A convenience sample of 1,201
- Hungary: A convenience sample of 1,201
- Finland: A convenience sample of 1,009
- Denmark: A convenience sample of 605
Finder surveyed 41,654 people across 30 countries and regions via Google surveys in March – April 2021. Due to the varying Google infrastructure in each territory, not all surveys were nationally representative. Where a nationally representative sample was unavailable, a natural fall/convenience sample was used. The list of the countries studied, sample sizes and survey types are presented below:
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