Retail banking: Germany switched on to internet banking

Online banking has grown in popularity in Europe in recent years as consumers become increasingly comfortable using the internet. Germany has a particularly high number of consumers banking online, with an estimated 15.4 million consumers using internet banking services in 2005, up significantly from 8.6 million in 2002. Germany is currently ahead of the UK, France, Italy, Spain, the Netherlands and the Nordics in terms of the number of consumers banking online, and is expected to remain one of the largest online banking markets over the next five years.

Source: Datamonitor, "Online Banking Strategies in Europe 2006" (DMFS1950)