ArticlesPricing

Products

See All Solutions →
By ProductEMARKETER PRO+Analyst Access Program
By Use CaseDetermine Market SizingDevelop StrategiesAllocate BudgetBenchmark PerformanceWin New BusinessDevelop Go-to-Market StrategyStay InformedThought LeadershipSee All Use Cases →
Advertising & Sponsorship
Boost your brand and generate demand with media programs.
Learn More →

Events & Resources

Learning Center
Read through guides, explore resource hubs, and sample our coverage.
Learn More →
Events
Register for an upcoming webinar and track which industry events our analysts attend.
Learn More →
Podcasts
Listen to our podcast, Behind the Numbers for the latest news and insights.
Learn More →

Topics

See All Topics →
Advertising & MarketingSocial MediaContent MarketingEmail MarketingVideoBrowse All →
Ecommerce & RetailEcommerce SalesMcommerceRetail SalesSocial CommerceBrowse All →
Financial ServicesBankingPaymentsFintechWealth ManagementBrowse All →
GeographiesAsia-PacificCentral & Eastern EuropeLatin AmericaMiddle East & AfricaNorth AmericaWestern Europe
HealthValue-Based CareDigital TherapeuticsTelehealthOnline PharmacyBrowse All →
TechnologyConnected Devices5GArtificial Intelligence (AI)Browse All →
More IndustriesReal EstateCustomer ExperienceB2BTravelSmall Business (SMB)Browse All →

Latest Articles

Explore our Research →

The big answers: EMARKETER Daily quiz

Article |
 Sep 16, 2025

App activation rates much higher with identified users

Article |
 Sep 16, 2025

As TikTok deal looms, what happens to the algorithm?

Article |
 Sep 16, 2025

JPMorgan’s data-sharing deal with Plaid legitimizes fee model

Article |
 Sep 16, 2025

It’s time for FIs dust off their TikTok outreach campaigns

Article |
 Sep 16, 2025

Santander just premiered the grand finale of its years-long campaign

Article |
 Sep 16, 2025

Advertising could get a lot simpler for FIs in the near future

Article |
 Sep 16, 2025

Health regulator turns up the heat on Hims & Hers ads

Article |
 Sep 16, 2025

PayPal beefs up P2P offering with PayPal links

Article |
 Sep 16, 2025

Best Buy relies on stores and data to grow ad business

Article |
 Sep 16, 2025
Browse All →

About

Our Story
Learn more about our mission and how EMARKETER came to be.
Learn More →
Our Clients
Key decision-makers share why they find EMARKETER so critical.
Learn More →
Our People
Take a look into our corporate culture and view our open roles.
Join the Team →
Our Methodology
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More →
Newsroom
See our latest press releases, news articles or download our press kit.
Learn More →
Contact Us
Speak to a member of our team to learn more about EMARKETER.
Contact Us →
EMARKETER
Spotlight

UK Digital Account Opening Forecast 2022

How Slow Yet Steady Growth Will Drive Competitive Dynamics

Report by Tiffani Montez  |  Dec 12, 2022
Download
Report
Share
Table of Contents
Executive Summary
Steady Growth Will Alter Competitive Dynamics
Digital Bank Account Opening: The Industry Reset
Incumbents Kick-Start Growth in 2022
Read Next
Sources
Media Gallery
About This Report
Demand for digital accounts will decrease YoY in 2022 due to economic volatility, with growth tapering off in 2023 and stagnating by 2024.
Topics
Digital Banking
UK
Table of Contents
Executive Summary
Steady Growth Will Alter Competitive Dynamics
Digital Bank Account Opening: The Industry Reset
Incumbents Kick-Start Growth in 2022
Read Next
Sources
Media Gallery

Executive Summary

Total digital account opening will sink in 2022 by 25.9% year over year (YoY), a faster slide than in any previous year in our forecast. Annual growth is set to hit 0.4% in 2023 and remain below single digits through 2026, creating an environment of fierce competition between incumbents and neobanks.

Key Question: How will incumbents and digital-only banks, aka neobanks, be able to acquire new customers in the face of a possible recession?

Total UK Digital Account Openings, 2019-2026 (millions and % change)
E-Mail ChartDownload

KEY STAT: Since 2019, total digital account openings surged by 30.0% to 6.4 million in 2021, and they’ll nosedive 25.9% in 2022 as the industry experiences a reset.

Here’s what’s in the full report

1file

Exportable files for easy reading, analysis and sharing.

3charts

Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Executive Summary
  2. Steady Growth Will Alter Competitive Dynamics
  3. Digital Bank Account Opening: The Industry Reset
  1. Incumbents Kick-Start Growth in 2022
  2. Read Next
  3. Sources
  1. Media Gallery

Charts in This Report

Total UK Digital Account Openings, 2019-2026 (millions and % change)Digital-Only Bank Account Holders and Penetration in the UK, 2019-2026 (millions and % of population)
Digital-Only Bank Account Openings vs. Traditional* Digital Bank Account Openings in the UK, 2019-2026 (millions )

authors

Tiffani Montez

Contributors

Tyler Brown
Senior Analyst
Caitlin Cahalan
Researcher, Financial Services
Brian Lau
Forecasting Analyst
Already have a subscription?Sign In

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry

Become a Client
Unlock Unlimited Insights with PRO+
Schedule a Demo