Tiny 2% use online banking in Bulgaria

Only a mea­gre two per­cent of Bul­gar­i­ans use online bank­ing serv­i­ces, thus plac­ing the coun­try at the bot­tom of the Euro­pe­an rank­ings togeth­er with Roma­nia, Greece, Ser­bia and Tur­key.

Only a mea­gre two per­cent of Bul­gar­i­ans use online bank­ing serv­i­ces, thus plac­ing the coun­try at the bot­tom of the Euro­pe­an rank­ings togeth­er with Roma­nia, Greece, Ser­bia and Tur­key. The find­ings were made pub­lic at the Inno­va­tions finan­cial forum, which took place in Sofia on 24 June. How­e­ver, experts high­light­ed the fact that the two per­cent share was tiny even against the back­drop of the for­ty per­cent of inter­net users in the coun­try.
The highest per­cent­age of online bank cus­tom­ers in Europe, over 70%, was boast­ed by Bel­gi­um and the Neth­er­lands, and the EU's aver­age stood at 27%.  
There­fore, it was not sur­pris­ing that Bul­gar­ia ranked first in the num­ber of bank branch­es per cap­i­ta: 62 per 100,000 peo­ple, with only 10 in Nor­way. Bul­gar­ia and Ita­ly had the highest num­ber of bank sub­sid­i­ar­ies, while Ger­ma­ny had 14.  
Experts claimed that it will take Bul­gar­ia 10 to 15 years to reach the cur­rent per­cent­age of online bank­ing in Scan­di­na­vi­an coun­tries, though giv­en the rap­id growth in online serv­i­ces it might be no more than 5 years if trends con­tin­ue to grow.
Their con­clu­sion is that actu­al bank branch­es will become redun­dant over time. Bank­ers say that the future belongs to online bank­ing cou­pled with call cen­tre-pro­vid­ed serv­i­ces. This is par­tic­u­lar­ly true giv­en the ever increas­ing num­ber of users of social media, which banks con­sid­er the new­est chan­nel of com­mu­ni­ca­tion with cus­tom­ers.   
The use of online bank­ing depends on secu­ri­ty con­cerns to a great extent. Aft­er the recent attack by online hack­ers, 30% of the cus­tom­ers of Ger­ma­ny's larg­est bank switched from online bank­ing to bank­ing via call cen­tres, finan­cial experts add­ed.

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