Finaccord’s updated and expanded report titled Net Metrics: Consumer Usage of On-Line Aggregators, Brokers and Other Intermediaries in UK Banking focuses on two fundamental aspects of Internet distribution of lending and savings products in the UK: general patterns in consumer behaviour in this sphere and dynamics in the rapidly evolving market for on-line aggregators and brokers of banking products. With regards to the former issue, the research investigates several core areas including consumer propensity to take out six different types of banking product via the Internet, consumer propensity to use different generic types of web site in this context and the relative importance of 12 key characteristics of web sites of aggregators and brokers of lending and savings products for encouraging consumer usage to research and / or acquire.
As for the latter, the study offers an updated and detailed benchmarking in terms of consumer awareness, consumer trust and consumer usage to take out banking products of 70 of the leading web-based aggregators and brokers in the UK including BeatThatQuote.com, Fool.co.uk, Kelkoo, MoneyExpert, Moneyfacts, MoneySavingExpert.com, moneysupermarket.com, Norton Finance, Ocean Finance and uSwitch.com. Key features of this report include: - analyses of the frequency with which consumers visit 20 generic categories of web site ranging from the sites of the main banking institutions, Internet access providers and supermarkets that they use to the sites of traditional affinity groups such as charities, football clubs, professional associations and trade unions and the sites of new media entities including social networking providers, video sharing providers and so-called virtual worlds; - evaluations of the degree to which respondents are likely to research or acquire banking products from each of the same 20 generic categories of web site; - investigation into the degree to which consumers using on-line aggregators or brokers of banking products feel loyal towards the on-line aggregator or broker that they use most frequently; - clear rankings of 70 of the top on-line aggregators and brokers of lending and savings products in the UK in terms of consumer awareness, consumer trust and consumer usage; - for the same 70 organisations, analysis of consumer usage to take out banking products during the last 12 months in comparison to any time prior to the last 12 months.
The research for this study was carried out during January and February 2008 using the Internet consumer panel of Tpoll. In total, completed surveys were filled in and submitted on-line by 1,295 consumers. In addition, for questions that overlap with the sister Net Metrics research and publication covering Internet insurance, responses were received from a further 1,275 consumers making 2,570 in total breaking down by age group, annual household income, geographical location and longevity of Internet usage as illustrated in the report prospectus.
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