The British Are Coming… for Tablet-Based Banking

The British Are Coming... for Tablet-Based BankingThe British are crazy about their tablets. In fact, when it comes to personal banking, British consumers and poised to turn to their tablets before their mobile phones within the next few years.

“More European consumers will bank on their tablets than on their mobile phones by as soon as 2016,” reads a report summary from Forrester‘s European digital banking forecast for 2014 to 2018.

While mobile banking use in Europe will grow fast — from 42 million users in 2013 to 99 million in 2018 — tablet banking will grow twice as fast — from 19 million users in 2013 to 115 million in 2018.

Growing tablet ownership, the increased availability of tablet banking apps, and fewer security fears among tablet users versus mobile users are among the key drivers behind the explosive tablet banking growth predicted by the report.

“As customers start using their tablets and smartphones to do their banking, some will stop using their desktop and laptop PCs,” writes Forrester analyst Stephen Walker. “We expect the number of Western European online banking users on PCs and tablets to grow slowly in the next five years and reach 163 million by 2018, masking a big underlying shift from PCs to tablets to access banks’ websites.”

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