Tablet banking in Europe to surpass mobile banking by 2016: Report

Tablet banking in European countries is expected to surpass mobile banking channel by 2016, reveals a reported released by Forrester.

Tablet banking in European countries is expected to surpass mobile banking channel by 2016, reveals a reported released by Forrester.

Dubbed as "European digital banking forecast for 2014 to 2018", the study highlights that mobile banking in Europe will increase from 42 million users in 2013 to 99 million in 2018.

The tablet banking has been forecasted to grow twice from 19 million users in 2013 to 115 million in 2018, backed by growing tablet ownership, increased availability of tablet banking apps, and lesser security concerns.

Forrester analyst Stephen Walker said, "As customers start using their tablets and smartphones to do their banking, some will stop using their desktop and laptop PCs."

"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."

The new forecast covers digital banking adoption across seven European nations, which includes France, Germany, Italy, the Netherlands, Spain, Sweden, and the UK.

The study further highlights that European tablet owners who bank on the devices to almost double from 35% in 2013 to 68% by 2018.

Sweden will have the highest tablet banking adoption at 89%, while Italy will have the lowest at 54% after the Netherlands and Sweden in 2018.

France is the only country in the forecast where tablet banking will not overtake mobile banking by 2016, as it combines lower tablet adoption than the other EU countries while Italy has the highest mobile banking adoption after the Netherlands and Sweden.