Banking has changed during the pandemic. According to a study, more and more people are using online banking. This also shows what is important and what is not.
Gone are the days when you went to the bank branch for your financial transactions. According to a survey, the majority of bank customers in Germany now mainly do their banking on their PC or smartphone. The trend has even increased in the past two years.
“The pandemic has given online banking a powerful boost. Our current survey shows that 56 percent of those surveyed conduct their banking transactions primarily online or via smartphone,” said Christian Ossig, General Manager of the Association of German Banks (BdB), summarizing the results of the survey that has now been published. The newspapers of the Funke media group had previously reported on it.
A good third (35 percent) of the slightly more than 1000 adults surveyed by the Kantar Institute uses a computer or laptop for banking transactions such as account inquiries and transfers. 21 percent do this primarily via an app on their smartphone. A quarter (25 percent) say they prefer to go to the counter in the branch.
Security is a priority in banking
Among 18 to 29-year-olds, the proportion of those who do most of their banking on the go is particularly high at 48 percent. The proportion of those over 60 who remain loyal to the branch is almost as high at 45 percent.
According to the survey, the most important thing for bank customers when choosing their channel is that they can do their banking transactions securely (84 percent). Personal contact with the staff in the bank or savings bank is therefore not that important to the majority (41 percent). More than 60 percent of those surveyed consider online banking to be very secure or secure. 30 percent have concerns.