Norwegians love Web banking

News Latest newsAnnouncementsWeek in view Intelligence Retail bankingWholesale bankingCardsDealing roomsECNs exchangesOnline bankingPaymentsRiskSecuritySTP Tools Advanced searchAnalysisResearchCommentCase studiesWhite papersRSSNewsfeedSolutions sourcing About us About Finextra 22 February 2008 - 09:30 Norwegians love Web banking Nearly the entire adult population of Norway - about four million people - now use Internet banking services, according to bank processing firm EDB Business Partners.

EDB says its statistics are based on traffic in its systems and the assumption that the remainder of the Norwegian market has experienced the same trends. According to its data, EDB says there has been a 10% rise in the number of Web bankers in the country over the past 12 months and the figure has grown three-fold in the last four years.

The total use of Internet banking services - including payments, account balance checking, account history enquiries, transfers between accounts and other services - grew by around 20% in 2007. Between 2003 and 2007 the number of transactions carried out online has increased by 144%, says EDB. The vendor estimates that Internet bank users in Norway pay an average of nearly 60 bills a year online.

“Internet banking is very definitely the dominant channel that Norwegians use to manage their personal finances,” says Helge Moan, director, solutions and services, bank and finance, EDB.