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Online Banking: Remote Channels, Remote Relationships?

Product Type: Market Research Report
Published by: eMarketer
Published: June 2006
Product Code: R203-426
Description
Attention: Bankers, Financial Service Providers, Technology and Security Vendors, Marketers and Advertising Agencies.

The Online Banking report explores the contradictory dynamics driving and impeding the growth of online banking: service convenience and security concerns.

Key questions the "Online Banking" report answers:
  • Which demographic groups present the most opportunity for online banks?
  • What causes consumers to switch online banks?
  • What do consumers consider the most important feature of a banking site?
  • How will US consumers react to two-factor authentication?
  • And many more...
eMarketer Reports—On-Target and Up-to-Date

The Online Banking report aggregates the latest data from leading marketing and financial researchers with eMarketer numbers, projections and analysis to provide the information you need to make smart business decisions.
Table of Contents
Impetus

US Online Banking Households, 2004-2010 (millions and % of total online households)

Overview

Issues & Questions

The eMarketer View

Key eMarketer Numbers

Implications for Your Business

Demographics and Online Banking

US Internet Users, by Age, 2004 & 2005 (% of respondents in each group)

US Adult Internet Users for Whom the Internet Is the Primary Source of Information about Products They Plan on Purchasing, by Household Income, March 2006 (% of respondents in each group)

The Internet as Financial Informer

Influence of the Internet on Financial/Investment Decisions of US Adults*, February-March 2005 (% of respondents)

Gen Y Graduates to Financial Services

Usage of Finance-Related Web Sites by US University Internet Users, by Category, 2005 & 2006 (average minutes per visitor and % increase vs. prior year)

Usage of Select Finance Web Sites by US University Internet Users, 2005 & 2006 (average minutes per visitor and % increase vs. prior year)

Information that Recent US College Graduates Consider "Somewhat" or "Very Important" to Include on a Web Site Targeted to Them, 2005 (% of respondents)

Gen X, Boomers and the “New Middle”

Select Online Activities of US Internet Users, by Age, 2004 & 2005 (% of respondents in each group)

Degree to which Select Sources of Financial Information Affect Affluent Baby Boomers' Plans for Financial Security, March 2005 (% of respondents)

US Internet Users Who Use Online Financial Services, by Income, February 2005 (% of total users of each service)

Some Banks Bet on Seniors

The “Unbanked” Opportunity

Demographic Profile of US Unbanked* Consumers vs. All US Consumers, 2006 (% of respondents)

Online Activities during the Past Year among US Online Unbanked* Consumers vs. All US Online Consumers, March 2006 (% of respondents)

Consumer Attitudes and Behaviors

The Financial Future Is Online

Distribution of Banking Services* Worldwide, by Channel, 2000, 2005 & 2010 (% of services delivered)

Active Online Banking Customers* for the Top 10 Banks in the US, Q4 2002-Q4 2005 (thousands and % increase vs. prior quarter)

Number of Times per Month that US Adults* Conduct Select Online Personal Banking Activities, 2004 & 2005

Europeans Prefer to Bank Online

Percent of Banking Done Online by Consumers in Select Countries Worldwide, 2005 (% of respondents)

Level of Satisfaction with Banking Channels according to Online Financial Services Users in Europe* and Canada, 2004 (% of respondents)

Reasons that Adults in the UK Have or Intend to Purchase At-Home Internet Access, June-August 2005 (% of respondents in each group)

Select Types of Web Sites that Are Visited by Female Internet Users in Europe, 2003-2005 (% of respondents)

In the US, Time Is of the Essence, Sort Of

Banking Channel Preferences for Select Financial Activities according to US Adults, February-March 2006 (% of respondents)

Bill Paying through Bank Sites Shows Growth

US Consumers Who Bank Online and/or Pay Bills Online, 2003 & 2005 (% of respondents)

Reasons that US Consumers Pay Bills Online, 2005 (% of respondents)

Reasons that US Consumers Do Not Pay Bills Online, March 2005 (% of respondents)

Little Loyalty Online

Likelihood that US Consumers Would Switch Banks for Free ATM Service Nationwide, August 2005 (% of respondents)

‘Online Only’ Accounts Have a Disruptive Impact

US Internet Users Accessing Online High-Yield Savings Accounts, January & October 2005 (thousands of unique users and % growth)

US Internet Users Accessing Online High-Yield Savings Accounts at More than One Institution, January & September 2005 (% of Internet users)

Web Site Functionality Is Critical

Common Problems US Consumers Experience on Banking Web Sites, October 2005 (% of respondents)

US Consumer Reactions to Problems Conducting Online Transactions*, October 2005 (% of respondents)

The Insiders’ View of Banking Web Sites

Top Three US Banking Web Sites, Ranked by Overall Customer Satisfaction and Experience, 2006

Top North American Financial Services Companies, Ranked by Online Customer Experience, Q2 2006 (based on an index*)

Security, Privacy and Trust

Factors that Will Improve the Customer Online Banking Experience according to US Adults, 2005 (as a % of respondents)

Banks Have the Most Trusted Financial Sites

Trust Level of Financial Services Web Sites according to US Internet Users, 2005 (% of respondents)

But Trust Is Eroding as Security Breaches Rise

Method of Payment Reported by US Consumers for Internet Fraud Complaints, 2003 & 2005 (% of complaints)

US Consumers Who "Completely/Strongly Agree" that Internet-Based Financial Transactions Are Safe and Secure, 2000-2003 & 2005 (% of respondents)

Two-factor Authentication Arrives

Steps that US Consumers Feel Financial Institutions Should Take to Strengthen Online Banking Authentication, November 2005 (% of respondents)

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