Finovate Blog

Our latest research is now available: Online Banking Report 2013 to 2022 Forecast. The report includes our latest 10-year online banking, mobile banking and bill-pay forecast for the U.S. market. Online banking remains relatively flat, growing less than 5%, while mobile expanded by 40% last year (see note 1).

Based on recent mobile growth, we now project that in 2019, mobile account access will equal online account access in the United States (based on household penetration of each service).

The report also includes a revised 10-year forecast for U.S. peer-to-peer lending. After growing almost fifteen-fold in the past three years (2012 vs. 2009), we expect continued strong growth of nearly 30% compounded annually through 2022.

Finally, we took one last look at 2012 and documented the top-10 innovations or trends of the year (see below). We also updated our top-10 project priorities for 2013.

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Top innovations & trends of 2012
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The report includes a summary of the top-10 innovations or trends during the past year (in alphabetic order):

• Alt-biz lending disrupts commercial lending for the smaller business
• Balance forecasting launched by Simple and Key Bank
• Banking websites get “simple” makeovers
• Digital (cloud) wallets find a value proposition, best-case routing
• iPads appear at the POS and new accounts desk
• Mobile deposit goes mainstream
• P2P lending pops!
• Pay As You Go auto insurance launched by MetroMile
• Prepaid cards gain as “basic checking”
• Virtual gift cards get a boost as Square launches 200,000 in a single day

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New entrants to the OBR Hall of Fame
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Each year we rank the top online/mobile innovations of all time (North America). A total of 48 achievements are listed from 50 companies:

• 17 banks
• 5 credit unions
• 11 non-bank financial services companies
• 17 fintech companies

The class of 2012 included two new entrants:

• City Bank of Texas’s mobile on/off switch for debit cards (powered by Malauzai)
• Simple and Key Bank both launched real-time balance forecast tools 

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About the report
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Online & Mobile Banking Forecast (link)
The next 10 years: 2013 through 2022

Author: Jim Bruene, Editor & Founder

Published: 7 Jan 2013

Length: 32 pages, 26 tables, 12,000 words

Cost: No extra charge to OBR subscribers, US$495 for others here

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Report excerpt:

Lending Club is the biggest fintech startup success of 2012 
The company originated nearly three-quarter billion dollars in new loans in 2012 and surpassed $1 billion in cumulative originations in November.