Tablet Banking to overtake m-banking in 6 key European markets: Forrester

An eye-catching forecast hits my inbox from the good guys at Forrester Research, Inc. Its report, European Digital Banking Forecast, 2014 to 2018 authored by Stephen Walker and Benjamin Ensor forecasts that more consumers will bank on their tablets than on mobile phones in Germany, Italy, Netherlands, Spain, Sweden, and the UK by as soon as 2016, writes Douglas Blakey

An eye-catching forecast hits my inbox from the good guys at Forrester Research, Inc. Its report, European Digital Banking Forecast, 2014 to 2018 authored by Stephen Walker and Benjamin Ensor forecasts that more consumers will bank on their tablets than on mobile phones in Germany, Italy, Netherlands, Spain, Sweden, and the UK by as soon as 2016, writes Douglas Blakey

Of 7 major European markets surveyed, only France will report m-banking exceeding tablet banking in 2016.

By 2018, the report forecasts Western European mobile banking users to more than double to reach 99m.

By contrast, Forrester says that the number of Western European tablet banking users will soar grow to hit 115m people by 2018.

The only stat in a data rich survey with which I might take issue relates to smartphone stats.

It says that smartphone penetration rates in Western Europe will grow to 75% by 2018.

It is not unrealistic to think that the 75% threshold might be breached well before 2018. In Spain and the UK, for example, existing smartphone penetration rates are already close to 70%.

If the tablet banking forecasts are to be realised, the number of banks offering tablet-optimised apps will have to rise significantly.

I can count on of the fingers of one hand the number of banks to have pitched me for editorial coverage that have launched tablet optimised apps.

Forrester’s survey was conducted in April and May 2013 and covered 13,181 European individuals in France, Germany, Italy, the Netherlands, Spain, Sweden, and the UK.

Co-author Ben Ensor, is by happy coincidence, a panel member at the next Digital Banking Club Live Debate: The Mobile Wallet already exists. It is called Mobile Banking! on Thursday, June 19th as part of London Technology Week 2014