No country for young men: online banking and finance are territory of 35+

The trend for online banking is ahead of the curve – the category increased its digital population by 7% year-over year, compared to an increase of 4% year-over-year for the total internet audience in France. However, somewhat unusually, it is older users driving this growth, highlighting the need to understand audiences in a more granular fashion in today’s multi-platform world.

Some key insights:

• People aged 55 or more represent the biggest segment of Total Unique Visitors at 31%.
• More than half of those who visited online banking sites in August 2016 were aged 45 or more.
• In August 2016, online banking sites reached 58.8% of the online audience of people aged 35 or more, compared to a reach of 48.4% for those aged between 15 and 34.
• People aged 35 or more are not only more likely to visit online banking sites, but also more likely to spend time on them. In August 2016 this average was exactly one hour per user in a month, more than double the average time spent by 15-to-34 year-old, who stopped the clock at 29 minutes.
• The total time spent on banking sites is inflated by frequency of visits, rather than by their duration. People aged 35 or more spent on average just over a minute longer per visit than younger users, but had 10.3 visits per month on average, versus 6.3 for people aged 15 to 34.
• Segmenting by gender also reveals behavioural differences. Women aged 35+ spent on average 55.4 minutes per month on online banking sites, while men of the same age averaged almost 10 minutes longer at 64.6 minutes.

If you are interested in learning more about Comscore Banking Solutions and our Vertical Benchmark Reports to address your specific needs, please do not hesitate to contact us.