EU Countries with the Highest Share of Individuals Using the Internet Banking

In 2023, Norway led with 91% of individuals using internet banking, followed by Denmark (88%), and Finland (86%). The data reflects a high adoption rate in Scandinavia, showcasing a robust digital banking culture. The Netherlands and Sweden also demonstrate strong figures, with 85% and 83% respectively. Over the past two years, these countries have maintained or slightly increased these rates, indicating a saturation point. The 5-year CAGR shows steady growth across the region, although at a reduced rate due to high existing penetration.

Future trends to watch include the potential rise in internet banking use in less digitally penetrated EU countries, driven by technological advancements and regulatory support. Additionally, innovations in fintech and digital identity solutions might influence newer user adoption, potentially altering the competitive landscape and further boosting internet banking penetration in regions previously slower to adopt.