More than 80% of US Internet Users Will Access Their Bank Accounts Digitally in 2020

More than 80% of US Internet Users Will Access Their Bank Accounts Digitally in 2020

This year, 81.6% of internet users in the US will access their bank accounts digitally at least once per month, according to our latest estimates. That’s significantly higher than the 72% we previously projected, due in large part to the pandemic. We expect this behavior to continue, and by 2023, we forecast there will be 207.3 million US digital banking users.

Financial institutions are also ramping up their digital offerings. “Traditional banks like Chase and Bank of America continue to innovate to grow their user base,” said Oscar Orozco, eMarketer senior forecasting analyst at Insider Intelligence. “An area of focus is the use of analytics-based personalization to provide helpful guides to their target audience. Notifications via smartphone apps are one way, with continued use of account-related alerts, spending patterns, promotional offers and helpful tips based on the customer’s location, bank balance and so on.”

Read More:

eMarketer and Business Insider Intelligence have joined forces to become the leading research company focused on digital transformation. For more insights and key statistics on the biggest trends in today's most disruptive industries,subscribe to Chart of the Day.