Digital banking statistics 2022

How many Brits have a digital-only bank account in 2022?

Digital banks (such as Monzo, Revolut and Starling Bank) offer simple, fee-free services for people wanting to track their spending immediately from their digital device. Our data shows that people really value good digital services from their bank, which helps explain the consistent increase in online banking use over the last 10 years. We looked for the latest stats on digital banking in the UK, along with carrying out our own research on how people are using their accounts and their future intentions when it comes to banking.

The latest stats

  • As of January 2022, over a quarter (27%) of British adults have opened an account with a digital-only bank, equating to 14 million people. This figure has not changed from 2021.
  • 10% of British adults intend to open an account with a digital-only bank by the end of 2022, meaning the end of the year could see the number of Brits with a digital-only bank rise to 19 million (36%).
  • In 2022, an estimated 93% of the UK adult population will be using some form of online banking.
  • According to Barclay, 88.6% of eligible payments in 2020 were contactless.
  • As of 2020, as many as 1.9 billion individuals worldwide actively used online banking services.
  • This number is forecast to reach 2.5 billion by 2024.
  • 51% of adults aged 25 to 34 have a positive attitude towards a cashless society.

What do Brits think their primary banks are good at?

In 2020, digital banking services were rated as the second-best feature of people’s primary banks. Do people, therefore, consider digital services to be a critical component of their financial provider? A range of digital services ranked as the second-most important feature among respondents, just behind security. A range of digital services also received almost double the popularity that a range of financial products did.
Service Features that are most valued
Security 40%
Range of digital services (app, online banking, etc) 39%
Personal service (including telephone, email) 26%
Quality of advice 25%
Range of financial products and insurance offers 21%
Range of payment options 21%
Transparency 21%
Free-of-charge cash, also abroad 20%
Terms and conditions for keeping an account 20%
Lending conditions 9%
None of the above 7%
Don't know 11%

Online banking popularity

Online banking popularity has increased steadily between 2007 and 2020, with 4 in 5 Brits using online banking in 2020. Since 2005, online banking has experienced year-on-year growth every single year and has reached a peak of 80% in 2020 – meaning 4 out of 5 Brits are using online banking. As the level of online banking increases, it may be seen as an indicator that Brits would be more willing to use digital-only banks as they become more used to banking online and on their mobile phones.
Year Online banking pentration
2005 27%
2006 28%
2007 32%
2008 38%
2009 45%
2010 45%
2011 50%
2012 52%
2013 54%
2014 57%
2015 58%
2016 64%
2017 68%
2018 74%
2019 78%
2020 80%
2021 86%
2022* 93%

Number of active online banking users worldwide

The usage of online and mobile banking could increase significantly across the globe within the next two years. Data shows that the Asian market could see the largest adoption growth rate, with this region already accounting for over 800 million active online banking users. It is estimated that this figure will reach nearly one billion by 2024. By 2024, Europe could also see 435 million people using online and mobile banking in some form, a stealthy jump from the 398 million who use it in 2022.

Far East & China North America Europe Latin America Rest of the world
2020 805.1 million 240.1 million 361.7 million 109 million 387.3 million
2021 844.4 million 250.5 million 379.9 million 126.4 million 441.8 million
2022 885.6 million 261.4 million 398.1 million 146.7 million 504.9 million
2023 928.9 million 272.7 million 416.4 million 170.4 million 578.5 million
2024 974.3 million 279.6 million 435 million 198 million 664.9 million

High-street vs digital banking

Back in Q3 and Q4 of 2019, HSBC gained 47,777 and then 46,118 customers – the highest increase in customer base of all the banks in our list. In fact, until 2020 Q2 at the height of the pandemic, HSBC remained the only bank gaining the most customers, having gained 74,563 customers at the time. In Q3 of 2020 they were knocked off the top spot by Nationwide who led the list with a gain of 16,353 customers. 2020 Q4 saw Halifix eventually make the highest customer gain – with over 33 thousand new customers added to their roster.

In 2021, HSBC dominated the top spot for the most part, with Lloyds Bank leading only in Q1. By the end of 2021 (early Jan 2022) HSBC and Nationwide were in first and second place, having gained 45,310 and 44,612.

2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4
AIB Group 49 39 23 43 16 44 35 42 101 56
Bank of Ireland 94 83 104 63 36 57 49 33 39 63
Bank of Scotland 3,795 3,767 3,349 3,579 1,601 2513 3,127 2,974 4519 3,909
Barclays 9,590 16,976 18,021 8,818 3,044 5572 4,843 4,812 6457 7,620
Co-operative 1,588 1,473 1,447 2,769 1,778 1803 2,675 2,333 4252 1,600
Danske 382 299 308 292 86 151 177 165 452 496
Halifax 17,352 9,377 8,293 7,841 3,383 33327 6,673 7,392 25847 10,537
HSBC 47,477 46,118 44,321 74,563 12,171 5998 22,847 23,892 50192 45,310
Lloyds Bank 11,815 12,359 36,219 12,049 5,230 18081 41,514 9,576 13483 16,656
Monzo 14,563 22,841 23,721 22,096 12,788 12451 10,858 10,480 8759 9,936
Nationwide 41,284 40,562 36,558 43,883 16,353 9670 8,571 10,264 13498 44,612
NatWest 40,717 13,927 35,998 43,581 12,350 5904 30,125 5,667 6645 7,579
RBS 7,695 9,373 7,137 4,047 2,925 3476 9,557 1,373 1602 2,474
Santander 20,799 21,336 15,202 12,030 4,962 11018 6,393 5,895 7970 23,632
Starling Bank 7,527 7,966 10,765 16,872 12,786 14148 17,756 18,874 15185 17,309
Tesco Bank 678 556 455 116 116 55 62 62 65 53
Triodos Bank 402 455 585 550 441 736 1,116 1,210 1209 916
TSB 7,270 8,164 7,473 13,119 2,656 3512 3,774 5,093 3278 3,127
Ulster Bank 1,112 391 1,934 968 198 337 687 195 257 375

Can't get enough information about digital banking?

For more digital banking information, check out our banking adoption statistics page. Finder conducted a digital banking adoption survey to get a feel of what the British public thinks.

Sources used

  • Statista
  • Eurostat
  • Current Account Switch Service (CASS)
  • Barclaycard

Click here for more research. For all media enquiries, please contact:

Matt Mckenna
UK communications manager
T: +44 20 8191 8806
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

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