Mobile banking drives digital banking growth in Italy

Digital banking in Italy is rapidly growing, with native digital banks experiencing a 50% annual increase in direct deposits. Traditional bank branches are expected to decrease by 20% in the next five years. Mobile banking usage is driving this growth, with 60% of users utilizing it in 2024, and projected to reach 80% by 2029. This trend is detailed in Deloitte's "Digital Banking Maturity" report, which also notes Italy lags behind some European countries in overall internet banking adoption. The report highlights that 95% of bank transfers were digital last year. Traditional banks are investing in technology and talent to adapt to the shift, despite a slower adoption rate compared to countries like France and Spain.