Tablet Banking to Overtake Mobile Banking

A report has shown the number of people in Europe completing their banking on tablets will grow twice the rate of those on mobile phones.

The report from Forrester Research found that by 2016 the number of people using tablets to bank will exceed those using mobile phones.

Tablet banking is predicted to grow from 19 million users in 2013 to 114 million in 2018.

Stephen Walker, analyst at Forrester Research said: "As customers start using their tablets and smartphones to do their banking, some will stop using their desktop and laptop PCs.

"We expect the number of Western European online banking users on PCs and tablets to grow slowly in the next five years and reach 163 million by 2018, masking a big underlying shift from PCs to tablets to access banks' websites.

"Consumers are unlikely to ever trust mobiles as much as PCs and tablets, given that the latter two are largely at-home devices that are rarely lost and therefore intrinsically feel more secure to consumers. Tablet users today are less likely than other online users to not use online banking because of security concerns."

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