Norwegian women take control in internet banking

The proportion of Norwegian women who use internet banking is growing strongly. Just a few years ago, women made up only one in four of internet banking users, but now almost half are female. More young women now use internet banking than young men. This information comes from EDB Business Partner's annual statistics for 2009, which identify trends in the behaviour of banking customers and the use of different payment channels.

The proportion of Norwegian women who use internet banking is growing strongly. Just a few years ago, women made up only one in four of internet banking users, but now almost half are female. More young women now use internet banking than young men. This information comes from EDB Business Partner's annual statistics for 2009, which identify trends in the behaviour of banking customers and the use of different payment channels.

"This is a clear sign that Norwegian women have become more financially aware over recent years, and the traditional gender roles for the management of family and personal finances are changing quickly. If the trends seen in 2009 continue, women will soon become the dominant user group for internet banking in Norway", comments Håkon Kvarme, head of the banking channels area at EDB.

Changes in behaviour patterns over the last 10 years
It used to be the case that men were by far the dominant user group for internet banking. In 2000, 75% of all internet banking users were men. However, the following decade has seen a significant shift in both the gender and age of internet banking users. By the close of 2009, women accounted for 44% of all internet banking users. In the 22 and younger age group, more women than men now use internet banking. The same period has also seen an increase in the average age of users, up from 30 in 2000 to 42 by the close of 2009.

Almost everyone in Norway uses internet banking
The number of customers holding internet banking account agreements with Norwegian banks grew to over 4.7 million in 2009. This represents an increase of 6.1% from 2008. This means that virtually everyone in Norway now uses internet banking. Over the same period, the number of invoices paid through internet banking grew by 4.9%.

Monday is on average the busiest day for internet banking, with the busiest times between 10:00 and 11:00 and between 21:00 and 22:00. The busiest single day for internet banking in 2009 was Wednesday, 24 June.

Fewer cash withdrawals
The number of cash withdrawals from minibank terminals is falling. Just over 98 million withdrawals were made in 2009, equivalent to an average of 20 transactions by every Norwegian. This represents a decline in excess of 2% from 2008. However, the average amount withdrawn continues to increase. The average cash withdrawal in 2009 was NOK 1,239 kroner. By way of comparison, in 2003 the average withdrawal was NOK 1,081. Friday afternoon is the busiest time for Norwegians to use their cards to withdraw cash. On Friday, 11 December, cash withdrawals from Norwegian minibanks reached NOK 524 million, making this the busiest day for cash withdrawals in 2009.

Mobile telephone banking
More and more Norwegians are using mobile banking services, such as mobile handset banking and SMS services, in addition to internet banking. While internet banking is used most in the morning and evening, usage of mobile banking services is spread more evenly throughout the 24-hour day. The busiest time for internet banking is between 10:00 and 11:00 on Mondays, while the busiest period for mobile banking is between 16:00 and 17:00 on Thursdays.

EDB's annual statistics
EDB is responsible for IT operations for the major part of internet banking and minibank traffic in Norway. EDB also provides operating services for a range of other banking applications. EDB's statistics relate to traffic handled by EDB's systems, which represents a large proportion of the total number of transactions carried out in Norway annually. EDB has estimated total figures for Norway based on EDB's market share and the assumption that the remainder of the market has experienced the same trends as those seen for the transactions handled by EDB's systems

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