The increase in the digitalisation of banking services via apps heralds an upcoming transformation in the fintech industry. A recent study by global financial comparison platform Finder.com shows that within the next five years, which is by 2025, around 27.8 million German adults are expected to have online-only bank accounts.
Which means digital banks are set to boom in Germany, with 40% of adults expected to have an account by 2025. Finder’s survey of 1,509 German adults conducted in March reveals 28%, or an estimated 19.7 million people, currently have an online-only bank account. With 12% planning to open an account in the next 5 years, that means the number of neobank account holders could balloon to around 27.8 million as soon as 2025.