Source: ABA
Bank branch interactions have fallen by 51 per cent since 2019, the Australian Banking Association said yesterday.
99.3 per cent of customer-bank interactions now occur via digital channels, the ABA said in a release timed for the second day of its annual conference in Sydney.
Over the past year, Australians made $160 billion in payments with their mobile wallets, up 28% from the previous year. The number of mobile wallet transactions is eleven times that of ATM withdrawals.
Digital banking interactions have increased by 70% since 2019, the ABA said in a report: Bank On It: Customer Trends 2025.
The ABA said 99.3% of people aged 15 and older have a bank account, and that “near-universal bank access underpins Australia’s broad financial inclusion.”