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Millions of people, billions of transactions: Britain embraces a banking revolution

The BBA recently published a dissertation arguing that “A revolution is underway in how people spend, move and manage their money. The BBA is the UK’s leading association for the banking sector.

The initial report shows that customers of the five biggest retail banks have: - Downloaded more than 12.4million bank apps - Used their mobile phones for 18.6million transactions a week in 2013 – up from 9.1million in 2012 - Made nearly 40million mobile and internet transactions a week in 2013 - 28.4million debit and credit cards fitted with contactless technology - Signed up to receive more than 457.7million SMS balance alerts and other text messages during 2013.

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retail banking, uk