The Bankwatch

Tracking the consumer evolution of financial services

Ten-Year Online & Mobile Banking Forecast and 2009 | Online Banking Report

Online Banker Report has just issued its latest and the topic is future based look at the next 10 years for online banking and mobile banking.

Every year Jim and the team put together a review piece for the space the past year, and with predictions on usage patters for the next ten years. It is a must read for online banking professional in my view.

New Online Banking Report Available: Ten-Year Online & Mobile Banking Forecast and 2009

The latest Online Banking Report: 2010 to 2019 Online & Mobile Banking Forecast is now available. The report includes our latest 10-year online banking and bill pay forecast. For the third year in a row, the forecast was bumped up a few percentage points to reflect a more robust outlook for adoption, thanks primarily to mobile banking. For example, we now project 73 million U.S. households banking and/or paying bills by online or via mobile in 2013 (note 1).

The report also includes a revised 10-year forecast for U.S. peer-to-peer lending. After experiencing a 30% decline in 2009, we expect healthy growth next year with a record amount of loan originations.

I looked back at the December 2005 version. Back then 2009 was estimated to come in at 57 million – 63 million users. The result for 2009 was 57 million. In general the predictions are pragmatic and Conservative. For a prediction to come within the range 5 years later is pretty good in my book.

On to the new report. The usage levels will continue to grow although at a slower pace in total numbers, but a broader usage pattern across services and products. There is lots of detail on this topic that you will need the 36 page report to assess for yourself.

There is the update to the history section indicating the timing of new offerings and those who produced them. The meat of the report lies in the ‘Best of 2009" which goes over the top innovations of the year in detail with lots of graphs, screen grabs and statistics. Mobile features highly but a few other surprises in there too.

Written by Colin Henderson

January 23, 2010 at 23:45

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