It is safe to say that online and mobile banking have hit mainstream. Today, more than half of all adults with a bank account in France, Germany, Italy, Netherlands, Spain, Sweden, and the UK use banking services — which we define as information requests, transactions, or alert delivery — on their PCs, tablets, or mobile phones. The uptake of tablets and smartphones gives banks an opportunity to engage their customers deeply across platforms. Our recently published Forrester Research Digital Banking Forecast, 2013 To 2018 (EU-7) explores how each Internet-connected device will drive future online and mobile banking adoption across seven key European markets.
The forecast identifies some key trends in the European digital banking market.
1. Mobile banking adoption continues its sturdy growth. As recently as 2009, mobile banking activity was negligible, representing fewer than 5% of all adults with accounts. Adoption has risen nearly fourfold since and will continue to grow at double-digit compound annual growth rates through 2018. However, consumer concerns about device security will restrain growth: In all the European countries we track other than Italy and Spain, consumers are more than twice as likely to cite security concerns as a reason for not using mobile banking than for not using PC/tablet online banking.
At the intersection of technology, mobility, and consumer centricity, the automotive industry is kicking into gear. From the International Consumer Electronics Show highlights early this year to commercials aired during the nightly Winter Olympics coverage this week, it’s hard to miss the news and promotions around increasingly sophisticated in-car technologies. Vehicles are:
Evolving as channels for media consumption. Last month, Pandora announced that it would begin monetizing its in-car audience by integrating ads into its in-car stream tailored to consumers en route.
Becoming an extension of your network of connected devices. Google’s latest partnership with Audi, GM, Honda, and Hyundai promises to put Android OS-synched cars on the road this year.
Emerging as self-regulating “smart” devices in their own right. BMW’s recently launched “i” series boasts a navigation function that identifies the most energy-efficient route according to range and environment, along with other technology that improves vehicle performance and safety.
Between the tackles and touchdowns of Super Bowl XLVIII, about 35 brands went head to head in a competition for consumer attention by airing highly anticipated commercials at $130,000 per second. Which brands won? It’s hard to tell: Bets were in well before Sunday, play-by-plays have been highlighted, trends analyzed, and commentators are still discussing them.
The truth is that the games have just begun. For consumers, the Super Bowl ad spectacle is part of the “discovery” phase — the first of four stages constituting Forrester’s customer life cycle — as commercials educate markets about a new product or momentarily make an impression on individuals. The resulting waves of social chatter now rippling across the Web amplify each brand’s capacity to be noticed.