Page 32 - ASSET MANAGER 11 (EN)

32 • BITKOM RESEARCH
ASSET MANAGER • NO. 11/2019
Online Banking: Satisfied Users and Mobile
Banking Trend
For the first time, more than half of online banking users (52%) use their smartphone for banking. A year ago, the percentage was only 44 %; in 2015 it was only 34 %. Young people in particular are banking on mobile banking: among 16 to 29-year-old online banking users, almost two-thirds (63%) use their smartphone. The most common online banking applications continue to be the laptop (81 %) and the desktop PC (56 %), with 45 % using their tablet.
Anyone who uses online banking is largely satisfied with the offering. A large majority say that their own online bank offers all functions (93%), is secure (87%), is easy to use (82%) and is clearly arranged (81%). Two-thirds of online banking users (66 %) also say that they enjoy online bank- ing, compared with 58 % a year ago. The main reason that Internet users avoid online banking is that they are afraid that data could fall into the wrong hands (61%). There is also the desire to have contact with a person in a bank (57%) and the habit (56%). 2 out of 5 offline bankers are afraid of criminals (42%) or find online banking too com- plicated (38 %).
Online Insurance: Three quarters of young people are open to offers
The Germans are still a bit more reserved than with online banking when it comes to online insurance. Only one in two (51 %) has ever taken out insurance online, and anoth- er 16% can imagine this for the
future. However, younger peo-
ple are much more open-mind-
ed about this issue: Two-thirds
(65 %) of 16 to 29-year-olds have
already taken out insurance on-
line, and another 14 % can imag-
ine it for the future. "Many insurance companies today are different from traditional banks, still complicated and advisory intensive. But we are currently experiencing a trend towards understandable, more simply construct- ed insurance, hedging a risk on-demand for a few days or weeks, for example, instead of over a long duration," according to Berg "The trend towards online insurance will strengthen as providers make their policies simpler and clearer."
Especially when it comes to the question of the quality of advising, opinions differ. For example, 39 % of respondents who can imagine doing insurance online or have already
15 million German citizens no longer visit any bank branches
done so say insurance brokers are trying to sell things they do not need or that are too expensive. On the other hand, 30 % feel better informed online, 24 % say they can bet- ter compare offers online, and 20 % feel less pressured to sign. One in four (27 %) say that online offers are cheaper, and one in five (20 %) only has time to deal with insurance issues outside normal opening hours.
On the other hand, 3 out of 5 (57%) of those who can not imagine having insurance online say that they prefer detailed advising from a person- al conversation. Every second person (49 %) is sure they will receive better information in a personal conversation, and one in five (22 %) has already had good experiences with insurance brokers. In each case around every third person is afraid that his personal data will fall into the wrong hands online (39 %) or into those of cyber-criminals or hackers (35 %).
Only 15 % believe they get better deals offline than online.
In the future, online banking and online insurance could move closer together. Every second online banking user (49 %) is open to handling insurance matters directly on the online banking site of his bank or savings bank. Berg: "In the coming years, we will see a convergence of online banking and online insurance offerings. For customers, this means they have the opportunity to settle their finan- cial affairs conveniently in one place."
"ONLY SENIOR CITIZENS ARE RELUCTANT WHEN IT COMES TO ONLINE BANKING."
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