Digital banking has got a boost in the Corona Pandemic. Last year, in Germany, three million more people than in the previous year were banked on the Internet or a banking app, a unavailable study of the ING Germany and the consulting firm Barkov Consulting will show on Monday. The number of users grew from 43.8 million to 46.8 million. Digital banking but has not reached the high point in Germany, but it’s in the paper.
And less bank branches
In the pandemic some bank branches were temporarily closed and were then no longer opened from saving reasons. Many people had noticed in the ongoing trend towards online banking and fewer branches that banks do also love the Internet, an Ing spokesman said. For the study, data of the Federal Statistical Office and the European Statistics Health were analyzed Eurostat.
The rate of use of digital banking rose unusually strongly at four percentage points to 65 percent in the previous year – which, almost two-thirds of the people, used the Internet including apps for banks at least once within three months. In european comparison but Germany was only ranked 15. In Danemark, however, the usage rate 2020 was 94 percent. Understand the same rate for Germany, there is a potential of another 20.8 million people, write the authors.
Potential you see with old people as well as those with relatively little income and education. "The easier and intuitive people their bank meets, the easier the access is the access", Does the money house mean. Among the ages – little surprisingly – many alter people in digital banking are back: the lowest rate of use have the over 65-year-old (39 percent). But the highest potential give it at 55 and 64-year-old. "In order to raise this potential, it is particularly important to gain the confidence of these age groups in the safety of digital banking", said Ing-Germany Manager Christiane Fritsch.
Cash infrastructure still grown
Reason for the stronger use of digital banking, according to the paper, that the cash infrastructure, ie ATMs and cash registers in bank branches, shrank by 25 percent within five years. So closed savings banks and folk banks stores in record pace, the number of branches dropped by more than eight percent, threw it.
However, the minus in cash infrastructure is more than compensated by the retail trade – supermarkets, for example, also offer the payment of cash. Meanwhile, it is estimated 109.000 Cash registers with this function in the trade. Their figure is around 61 percent or over 40 within five years.000 rose. At the same time, contactless numbers at the store budget in Corona times in trend.