Only 8% of Romanians Use Internet Banking
- New Europe Investor
- October 24, 2015
Last week it emerged that the take up of internet banking in Romania is only 8% of the country.
Executive Director of Banca Comercială Română, BCR, Marian Ignat, said that this small indicates a regulatory issue within the country.
He also pointed to a failure for banks to compete with each other over service in certain areas. He was quoted as saying, ‘In the digital area, it goes works on providing quality and innovative service to the mass market.’
According to statistics, 50% of Romania use the internet on a regular basis and 70% have some form of access. Of those who use internet banking, 60% of them use it through their mobile phone.
Despite the low take up of internet in Romania, the country is ranked among top in the world for internet connection. In the latest rankings from Akamai, a cloud service provider, Romania came 6th in the world with 91% of internet connections over 4 megabytes per second.
This puts Romania in first position in Central and Eastern Europe. However, internet coverage in the country has a long way to go until it matches those of western Europe.