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Online and Mobile Banking - Ireland - September 2013

“Usage of mobile banking will continue to grow in Ireland as consumers become accustomed to performing banking activities at a time and place that suits them; while banks continue to move towards a more mobile and self-service business model. Going forward mobile banking providers could consider utilising the ‘FaceTime’ features of smartphone devices to begin delivering in-branch services such as financial and mortgage advice direct to consumers to maximise the mobile banking opportunity.”

– James Wilson, Research Analyst

Some questions answered in this report include:

  • What are Irish consumers’ attitudes towards online and mobile banking?
  • How often do Irish consumers access banking services through online and mobile devices?
  • What type of services do Irish consumers access most often through online and mobile devices?
  • What are the alternatives to technology-facilitated payments?
  • Are online security concerns affecting Irish consumers’ decisions to bank online and through mobile devices?

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Table of contents

  1. Introduction

      • Key themes of the report
        • Definition
          • Data sources
            • Abbreviations
            • Executive Summary

                • Market factors
                  • Mobile device ownership increases across Ireland
                    • Ireland’s mobile internet infrastructure to go 4G
                      • IT issues continue to plague RBS Group in 2013
                        • Increase in online banking fraud and phishing attacks a concern for consumers and industry
                          • Irish consumers increasingly using contactless payments
                            • Online and mobile banking innovations
                              • The consumer
                                • PC and laptops the most frequently used channel for accessing banking facilities
                                  • Figure 1: How often consumers access banking facilities through different channels and means, by all demographics, NI and RoI, October 2013
                                • Basic banking activities accessed remotely, complex services in-branch
                                  • Figure 2: Means used to access banking facilities, by all demographics, NI and RoI, October 2013
                                • Convenience of online and mobile banking a positive for Irish consumers
                                  • Figure 3: Agreement with statements relating to online banking, by all demographics, NI and RoI, October 2013
                                • What we think
                                • Issues in the Market

                                  • What are Irish consumers’ attitudes towards online and mobile banking?
                                    • How often do Irish consumers access banking services through online and mobile devices?
                                      • What type of services do Irish consumers access most often through online and mobile devices?
                                        • What are the alternatives to technology-facilitated payments?
                                          • Are online security concerns affecting Irish consumers’ decisions to bank online and through mobile devices?
                                          • Trend Applications

                                              • Trend: Return to the Experts
                                                • Trend: FSTR and HYPR
                                                  • Mintel Futures: Generation Next
                                                  • Market Overview

                                                    • Key points
                                                      • Steady increase in smartphone ownership in Ireland
                                                        • Figure 4: Consumers who own, or have access to mobile technology devices, NI and RoI, October 2013
                                                        • Figure 5: Ownership of smartphone devices, RoI, 2012 and 2013
                                                        • Figure 6: Ownership of smartphone devices, NI, 2011 and 2012
                                                      • Tablet ownership also grows throughout Ireland
                                                        • Figure 7: Ownership of tablet computers, NI, 2011-13
                                                        • Figure 8: Ownership of tablet computers, RoI, July 2012-August 2013
                                                      • Irish mobile internet infrastructure improving
                                                        • Figure 9: How consumers access the internet, NI and RoI, September 2009, July 2012 and October 2013
                                                      • Apps and applications offer mobile banking services
                                                        • Figure 10: Activities consumers would like mobile banking apps to perform, RoI, May 2012
                                                      • Further IT issues for RBS Group
                                                        • Online banking fraud increases 12% from 2011-12, but is still lower than 2009 levels
                                                          • Figure 11: Online banking fraud losses, UK (including NI), 2004-12
                                                        • Banks and law enforcement stepping up security measures to combat fraud
                                                          • Current account switching becomes quicker and easier
                                                            • Contactless payments increase in Ireland
                                                              • Figure 12: Agreement with statements relating to contactless card technology, by all demographics, NI and RoI, October 2013
                                                          • Competitive Context

                                                            • Key points
                                                              • Usage of cheques continues decline in 2012
                                                                • Figure 13: Check clearing value, £ billions, UK (including NI), 2006-12
                                                                • Figure 14: Cheque clearing volumes, UK (including NI), 2006-12
                                                              • Cheques also declining as a payment method in RoI
                                                                • Figure 15: Value of cheques and other paper debit instruments, € millions, RoI, 2004-12
                                                                • Figure 16: Volume of cheques and other paper debit instruments, millions, RoI, 2004-12
                                                              • Cash usage rises in UK (including NI) and declines in RoI
                                                                • Figure 17: Value of cash withdrawals via ATMs, UK (includingNI) and RoI, 2006-12
                                                            • Strengths and Weaknesses

                                                              • Strengths
                                                                • Weaknesses
                                                                • Online and Mobile Banking Innovations

                                                                    • Examples of innovation
                                                                      • RBS launches text-to-pay app
                                                                        • Halifax taps into digital vouchering trend
                                                                          • Mobile banking through Facebook app
                                                                          • The Consumer – Frequency with which Banking Services are Accessed Through Online and Mobile Devices

                                                                            • Key points
                                                                              • PC and laptops the most frequently used channel to access banking facilities
                                                                                • Figure 18: How often consumers access banking facilities through different channels and means, by all demographics, NI and RoI, October 2013
                                                                                • Figure 19: Consumers accessing banking facilities via a PC/laptop at least once a week, by all demographics, NI and RoI, 2012-13
                                                                              • 35-54s most likely to use PCs and laptops to access banking facilities
                                                                                • Figure 20: Consumers accessing banking facilities via a PC/laptop at least once a week, by gender and age, NI and RoI, 2012-13
                                                                              • ATMs remain a key channel for Irish consumers
                                                                                  • Figure 21: Consumers accessing banking facilities via an ATM at least once a week, by marital status, NI and RoI, October 2013
                                                                                  • Figure 22: Consumers accessing banking facilities via an ATM at least once a week, by location and social class, NI and RoI, October 2013
                                                                                • Smartphone banking shows only modest growth
                                                                                  • Figure 23: Consumers accessing banking facilities via a smartphone at least once a week, by all demographics, NI and RoI, 2012-13
                                                                                • Students and young professionals – the main smartphone bankers
                                                                                  • Figure 24: Consumers accessing banking facilities via a smartphone at least once a week, by gender and age, NI and RoI, October 2013
                                                                                  • Figure 25: Consumers accessing banking facilities via a smartphone at least once a week, by working status, NI and RoI, October 2013
                                                                                • In-branch banking – a quarterly activity for a fifth of Irish consumers
                                                                                    • Figure 26: Consumers accessing banking facilities in-branch once every two to three months, by gender and age, NI and RoI, October 2013
                                                                                    • Figure 27: Consumers accessing banking facilities in-branch once every two to three months, by working status, NI and RoI, October 2013
                                                                                  • Low usage of telephone, text and postal banking
                                                                                  • The Consumer – Means Irish Consumers Use to Access Banking Activities

                                                                                    • Key points
                                                                                      • PCs, laptops and branches – the primary means of accessing bank services
                                                                                        • Figure 28: Means used to access banking facilities, by all demographics, NI and RoI, October 2013
                                                                                      • PC and laptops – the main channel for balance enquiries
                                                                                          • Figure 29: Consumers making balance enquiries via a PC/laptop, by gender and age, NI and RoI, October 2013
                                                                                        • Irish consumers also making balance enquires at ATMs
                                                                                            • Figure 30: Consumers making balance enquiries via an ATM, by working status, NI and RoI, October 2013
                                                                                          • Financial advice most likely to be sought in-branch
                                                                                              • Figure 31: Consumers seeking financial advice in-branch, by gender and age, NI and RoI, October 20013
                                                                                            • In-branch financial advice influenced by presence of children in household
                                                                                              • Figure 32: Consumers seeking financial advice in-branch, by presence of children in the household, NI and RoI, October 20013
                                                                                            • One in ten consumers paying bills through smartphones
                                                                                                • Figure 33: Consumers paying bills via a smartphone, by working status, NI and RoI, October 2013
                                                                                                • Figure 34: Consumers paying bills via a smartphone, by presence of children in the household, NI and RoI, October 2013
                                                                                              • Money transfers still occurring in-branch
                                                                                                  • Figure 35: Consumers transferring money in-branch, by gender and age, NI and RoI, October 2013
                                                                                                  • Figure 36: Consumers transferring money in-branch, by working status, NI and RoI, October 2013
                                                                                              • The Consumer – Attitudes towards Online and Mobile Banking

                                                                                                • Key points
                                                                                                  • Online and mobile banking seen as a convenient way to manage finances
                                                                                                    • Figure 37: Agreement with statements relating to online banking, by all demographics, NI and RoI, October 2013
                                                                                                    • Figure 38: Agreement with the statement ‘Online and mobile banking is a more convenient way to manage my personal finances’, by working status, NI and RoI, October 2013
                                                                                                  • Online banking seen as very secure
                                                                                                      • Figure 39: Agreement with the statement 'Online banking is very secure', by gender and age, NI and RoI, October 2013
                                                                                                    • Young consumers most likely to engage in mobile banking
                                                                                                        • Figure 40: Agreement with the statement 'Mobile banking isn't very secure', by gender and age, NI and RoI, October 2013
                                                                                                      • Banks have work to do regarding security of contactless payments
                                                                                                        • Figure 41: Agreement with the statement 'Chip and PIN technology is more secure than contactless payments, by all demographics, NI and RoI, 2012-13
                                                                                                        • Figure 42: Agreement with the statement 'Chip and PIN technology is more secure than contactless payments, by working status, NI and RoI, October 2013
                                                                                                      • Branches still a preferred banking channel
                                                                                                          • Figure 43: Agreement with the statement 'I prefer visiting branches for important financial issues (eg to arrange a mortgage/loan)', by location and social class, NI and RoI, October 2013
                                                                                                          • Figure 44: Agreement with the statement 'I prefer visiting branches for important financial issues (eg to arrange a mortgage/loan)', by working status, NI and RoI, October 2013
                                                                                                        • Online-only providers increasingly popular with Irish consumers
                                                                                                          • Figure 45: Agreement with the statement 'I am happy to use a current account provider who can only be accessed online or by phone', by all demographics, NI and RoI, 2012-13
                                                                                                        • NI students most likely to use online-only banks
                                                                                                          • Figure 46: Agreement with the statement 'I am happy to use a current account provider who can only be accessed online or by phone', by working status, NI and RoI, 2012-13
                                                                                                      • Appendix

                                                                                                        • NI Toluna data
                                                                                                          • Figure 47: Consumer ownership of current accounts, by all demographics, NI, October 2013
                                                                                                          • Figure 48: Frequency consumers access banking facilities in-branch, by all demographics, NI, October 2013
                                                                                                          • Figure 49: Frequency consumers access banking facilities online via a PC/laptop, by all demographics, NI, October 2013
                                                                                                          • Figure 50: Frequency consumers access banking facilities online via a smartphone, by all demographics, NI, October 2013
                                                                                                          • Figure 51: Frequency consumers access banking facilities online via a tablet computer, by all demographics, NI, October 2013
                                                                                                          • Figure 52: Frequency consumers access banking facilities via telephone, by all demographics, NI, October 2013
                                                                                                          • Figure 53: Frequency consumers access banking facilities via text message, by all demographics, NI, October 2013
                                                                                                          • Figure 54: Frequency consumers access banking facilities via post, by all demographics, NI, October 2013
                                                                                                          • Figure 55: Frequency consumers access banking facilities via an ATM, by all demographics, NI, October 2013
                                                                                                          • Figure 56: Medium used to make a balance enquiry, by all demographics, NI, October 2013
                                                                                                          • Figure 57: Medium used to check a statement, by all demographics, NI, October 2013
                                                                                                          • Figure 58: Medium used to pay bills, by all demographics, NI, October 2013
                                                                                                          • Figure 59: Medium used to transfer money, by all demographics, NI, October 2013
                                                                                                          • Figure 60: Medium used to arrange standing order/direct debit, by all demographics, NI, October 2013
                                                                                                          • Figure 61: Medium used to order a cheque book/statement, by all demographics, NI, October 2013
                                                                                                          • Figure 62: Medium used to seek financial advice, by all demographics, NI, October 2013
                                                                                                          • Figure 63: Medium used to arrange a loan by all demographics, NI, October 2013
                                                                                                          • Figure 64: Medium used to arrange a mortgage, by all demographics, NI, October 2013
                                                                                                          • Figure 65: Agreement with statements relating to online banking, by all demographics, NI, October 2013
                                                                                                          • Figure 66: Agreement with statements relating to online banking, by all demographics, NI, October 2013 (continued)
                                                                                                          • Figure 67: Agreement with statements relating to contactless card technology, by all demographics, NI, October 2013
                                                                                                        • RoI Toluna data
                                                                                                          • Figure 68: Consumer ownership of current account, by all demographics, RoI, October 2013
                                                                                                          • Figure 69: Frequency consumers access banking facilities in-branch, by all demographics, RoI, October 2013
                                                                                                          • Figure 70: Frequency consumers access banking facilities online via a PC/laptop, by all demographics, RoI, October 2013
                                                                                                          • Figure 71: Frequency consumers access banking facilities online via a smartphone, by all demographics, RoI, October 2013
                                                                                                          • Figure 72: Frequency consumers access banking facilities online via a tablet computer, by all demographics, RoI, October 2013
                                                                                                          • Figure 73: Frequency consumers access banking facilities via telephone, by all demographics, RoI, October 2013
                                                                                                          • Figure 74: Frequency consumers access banking facilities via text message, by all demographics, RoI, October 2013
                                                                                                          • Figure 75: Frequency consumers access banking facilities via post, by all demographics, RoI, October 2013
                                                                                                          • Figure 76: Frequency consumers access banking facilities via an ATM, by all demographics, RoI, October 2013
                                                                                                          • Figure 77: Medium used to make a balance enquiry, by all demographics, RoI, October 2013
                                                                                                          • Figure 78: Medium used to check a statement, by all demographics, RoI, October 2013
                                                                                                          • Figure 79: Medium used to pay bills, by all demographics, RoI, October 2013
                                                                                                          • Figure 80: Medium used to transfer money, by all demographics, RoI, October 2013
                                                                                                          • Figure 81: Medium used to arrange standing order/direct debit, by all demographics, RoI, October 2013
                                                                                                          • Figure 82: Medium used to order a cheque book/statement, by all demographics, RoI, October 2013
                                                                                                          • Figure 83: Medium used to seek financial advice, by all demographics, RoI, October 2013
                                                                                                          • Figure 84: Medium used to arrange a loan by all demographics, RoI, October 2013
                                                                                                          • Figure 85: Medium used to arrange a mortgage, by all demographics, RoI, October 2013
                                                                                                          • Figure 86: Agreement with statements relating to online banking, by all demographics, RoI, October 2013
                                                                                                          • Figure 87: Agreement with statements relating to online banking, by all demographics, RoI, October 2013 (continued)
                                                                                                          • Figure 88: Agreement with statements relating to contactless card technology, by all demographics, RoI, October 2013

                                                                                                      Companies Covered

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                                                                                                      Online and Mobile Banking - Ireland - September 2013

                                                                                                      US $1,360.54 (Excl.Tax)