Quarter of global consumers are uncomfortable using online banking
Over a quarter of global consumers are uncomfortable using online banking (27%) according to YouGov Global Profiles which collects data from 48 international markets. Among adults aged 18-44, nearly three in ten (28-29%) agree with the sentiment. Contrary to common perceptions, the share of those aged above 55 who say they are uncomfortable using online banking is similar to that of other age groups. In fact, they are the most likely to outright disagree with that statement (53%).
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Delving into the data by market, in the APAC region, India stands out with nearly two in five consumers indicating unease with online banking (37%). This figure becomes particularly notable when compared to Singapore (20%), China (19%), Hong Kong (17%), where the percentage drops by nearly half.
Within the MENA region, Morocco (44%) and Lebanon (40%) lead, with almost two in five consumers saying they are uncomfortable using online banking. Among affluent Gulf nations like the United Arab Emirates (36%) and Saudi Arabia (35%), roughly one-third of consumers are uncomfortable using online banking.
The Nordic markets present a picture of heightened comfort with digital banking platforms. Denmark and Norway (11% each) both exhibit a low discomfort level with only one in ten consumers indicating so. Finnish consumers are least likely to say they are uncomfortable using online banking out of all the 48 markets (10%).
Germany stands out distinctly among all markets, with over two in five of its consumers expressing apprehension toward online banking (44%). Meanwhile, in Western European countries such as Great Britain, Spain, and Greece, approximately a quarter of consumers share similar reservations about digital banking (24-25%). In contrast, Eastern European nations like Slovakia, and Poland display a greater degree of comfort, with less than one-fifth expressing concerns (18% each).
In the US, two in five consumers remain wary of online banking (38%). Surprisingly, younger demographics exhibit heightened discomfort (18-24: 53% and 25-34: 46%). This apprehension tapers off with age; about two-fifths of those between 35-44 (41%) express unease, which further declines to only three-tenths among 45-54 (28%) and 55 plus (31%).
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Methodology: YouGov Global Profiles is a globally consistent audience dataset with 1000+ questions across 48 markets. The data is based on continuously collected data from adults aged 16+ years in China and 18+ years in other markets. The sample sizes for YouGov Global Profiles will fluctuate over time, however the minimum sample size is always c.1000. Data from each market uses a nationally representative sample apart from India and UAE, which use urban representative samples, and China, Egypt, Hong Kong, Indonesia, Malaysia, Morocco, Philippines, South Africa, Taiwan, Thailand and Vietnam, which use online representative samples. Learn more about Global Profiles.