Online banking doubles as Europe leads Web use



James Rogers

European consumers are more likely to bank online than their US counterparts, according to research from accountancy firm...



James Rogers

European consumers are more likely to bank online than their US counterparts, according to research from accountancy firm Price-WaterhouseCoopers.

Despite a series of high-profile online banking glitches, the PriceWaterhouseCoopers 2000 Consumer Technology Survey found that 37% of European consumers are using the Web at home for banking and investment, compared to 28% of their US and Australian counterparts.

PricewaterhouseCoopers found that the number of online banking users in the UK and France has doubled since 1999.

The survey polled 2,500 consumers in the UK, US, France, Germany and Australia at the end of the summer.

Europe has traditionally lagged behind the US for online shopping but penetration in Germany and the UK has now reached 42%, which is comparable to the US.

Peter Winkler, European marketing director at PriceWaterhouseCoopers said, "This shows the increasing comfort level of European consumers with buying online, they are now a lot more comfortable with using the Internet as a commercial medium."

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