One in four Irish adults (25%) currently have an online bank account, according to Finder.com’s Digital Banking Adoption Report.
Finder surveyed 41,654 people across 30 countries to reveal Ireland ranks 3rd for the percentage of adults with a digital bank account, behind only Brazil (32%) and Indonesia (24.9%).
With an additional 11% of Irish adults planning to open an account in the next five years, more than one in three Irish adults (35%) will have a digital bank account by 2026.
Finder.com’s global fintech editor Elizabeth Barry says there’s been a huge increase in digital banking over the course of the pandemic.
“In early 2020 just 15% of Irish adults had a digital bank account and an additional 4% planned to open one by the end of the year. That meant Ireland had one of the lowest rates of online bank adoption, a stark contrast to where it now stands in the top three.
“Between now and then the pandemic has fundamentally changed the way people bank. Customers are increasingly looking to digital banks as a means to perform everyday banking transactions from the comfort of their own home.
“Digital banking growth in Ireland is showing no signs of slowing down, with an additional 11% of adults planning to open an account over the next five years.
“The growth we’re expecting to see in Ireland is right in line with the global average of 11% and is much higher than other European countries like France and Spain.”
Barry says that as online banks expand their product offering we’ll see adoption grow along with it.
“Revolut is launching services such as loans and credit cards this year, which may reel in more online bankers than we anticipated.
“Digital banking adoption has already grown at a much faster rate in Ireland than earlier forecasts anticipated. This is testament to the popularity in digital banking services, especially amidst the pandemic.”
You can find the full report, including infographics and a breakdown by age, gender and region here: https://www.finder.com/ie/digital-banking-statistics
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