February 23, 2022 –Consumers in the most developed countries have a wide and increasingly diverse array of financial services at their disposal, as well as easy and immediate access to their accounts via digital applications on their smartphones, computers, and tablets. In the West—particularly in the three largest developed Western nations (Germany, the U.K., and the U.S.)—the immediate and convenient ability to open new accounts and manage them thereafter via digital solutions has propelled consumers’ financial access to new heights.

This Impact Report analyzes general consumer ownership of common account types across three countries (Germany, the U.K., and the U.S.), breaks down the channels used to access those accounts, and uncovers trends associated with account access and ownership. Aite-Novarica Group conducted a consumer study of 5,386 individuals in February and March 2021 within the U.S., the U.K., and Germany, to assess their tendencies toward paper receipts and their interest in digital receipts for in-store purchases. This study also explored general consumer preferences and ownership of popular account types, including the channels that are used to access those accounts.

This 30-page Impact Report contains 16 figures and two tables. Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.

This report mentions Block, Chime, PayPal, and Germany’s Statistisches Bundesamt.