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Digital Finance: How Germans Pay, Save, and Insure Today

Press Release What demands do Germans have for a modern bank? What role do digital services play in a switch? Who handles their banking affairs exclusively online, and who still goes to the branch? Bitkom publishes chart report 'Digital Finance 2024'.

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1 min read
In the picture we can see three boys standing near the desk on it, we can see two computer systems...
In the picture we can see three boys standing near the desk on it, we can see two computer systems towards them and one boy is talking into the microphone and they are in ID cards with red tags to it and behind them we can see a wall with an advertisement board and written on it as Russia imagine 2013.

Digital Finance: How Germans Pay, Save, and Insure Today

Digital finance is rapidly reshaping how Germans manage money. A new study reveals strong demand for online banking, contactless payments, and even AI-driven financial advice. Many are also open to cryptocurrencies and branchless banking as trust in traditional systems shifts.

Contactless payments have become nearly universal, with 98% of Germans using them at least once. Over two in five now tap their cards or phones daily. Meanwhile, online banking has grown to include 81% of the population—even among older adults, with 54% of those aged 65 and over regularly logging in.

A user-friendly app is now a must for most customers. Three-quarters of respondents called it essential, while 87% of young adults insisted on seamless digital access. This trend extends to insurance, where 79% have bought policies online, and 60% found the process straightforward. Attitudes toward digital-only banks are also changing. More than half of Germans would switch to a branchless provider, with 71% of young adults ready to make the leap. Cryptocurrencies are gaining traction too, as 28% have invested or would consider doing so, often to escape central bank policies or chase profits. Looking ahead, nearly half of working-age Germans want AI-powered financial advice tailored to their needs. And 73% believe businesses should be legally required to offer at least one digital payment method, signalling a push for broader adoption.

The findings highlight a clear shift toward digital-first finance in Germany. From everyday payments to long-term investments, consumers increasingly expect speed, convenience, and personalisation. Traditional banks and insurers may need to adapt quickly to meet these changing demands.

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