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Home > Business/Finance > Financial Services > Electronic Transactions
Online Financial Services in Australia 2008
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| Published Date:
September 2008
Published By:
Datamonitor
Page Count:
33
Order Code:
R313-40323
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Introduction
Australian online financial services is a rapidly growing and evolving market segment. There have been changes to consumer attitudes, regulatory environment, technology and security. Going forward, the online channel is expected to become yet more important for financial services providers.
Scope- Includes a comprehensive overview of online financial services in Australia.
- Provides survey data on consumer attitudes and behavior relating to online financial services.
- Discusses security issues and two-factor authentication.
- Analyzes current and future trends in the market.
Highlights
Australian broadband subscription numbers have grown from around one million in 2004 to almost five million in 2007. This rise in broadband is especially important for financial institutions, as broadband strongly increases consumer propensity for using the internet for financial services.
Some experts believe that specific regulation for the online channel would be good for both providers and consumers, as there are issues and challenges that are unique to the channel. In their view, lack of specific regulation leads insufficient consumer protection which can hinder uptake.
Concerns can be assuaged by a highly accessible and transparent service, and by open communication between the institution and its customers. Personalization of accounts, where customers can change the look of the online banking site and customize its features, increases the sense of control.Reasons to Purchase- Improve your strategic position using Datamonitor's in-depth analysis of the Australian online financial services market.
- Understand the unique challenges the online financial services market is facing, and benefit from forecasts of future developments.
- Learn about what consumers think about online financial services, and how to increase online uptake.
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