Table 1

Online Banking Timeline
number of U.S. households using online banking/bill payment

Source: Online Banking Report estimates based on industry data plus or minus 15%, 12/03

Every spreadsheet and business plan needs a prediction of future demand. So every year we gather forecasts made by prominent researchers and analysts, compare and contrast their results, layer on our own insights, and develop a 10-year forecast. Accuracy is estimated at plus or minus 15% for years one through three, plus or minus 20% for years four through seven, and plus or minus 25% for the out-years.

Over the years we’ve demonstrated a respectable track record . Our first comprehensive forecast made six years ago (year-end 1997), predicted that online banking usage would increase nearly 6-fold (560%) from 4.5 million in 1997 to 29 million households by year-end 2003. That prediction was nearly dead-on, perhaps 10% low, with an estimated
29 to 35 million households banking online today.

 

Table 2
Online Banking Evolution

Source: Online Banking Report, 12/03