Online Banking Strategies in Europe 2006: Industry Research Report

Online Banking Strategies in Europe 2006

Published Date: November 2006

Published By: Datamonitor

Page Count: 93

Order Code: R313-18762

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CHAPTER 1 INTRODUCTION: Who is the target reader?; Scope of the report; Structure of report
CHAPTER 2 INTRODUCTION TO ONLINE BANKING: Introduction; The number of customers banking online has continued to increase over the years; However, online banking penetration varies between countries; Despite the increased popularity of the online channel, expansion is hindered by a number of issues; However, there is now more willingness by banks to integrate the online channel within their multi-channel strategy; Datamonitor identifies three types of online banking model followed by banks
CHAPTER 3 BEST PRACTICE STRATEGIES IN ONLINE BANKING IN EUROPE: Introduction; Egg: personalized customer experience and innovation is at the heart of its success; Fineco: a niche player aiming at becoming the bank of choice for digital customers; Alliance & Leicester: an online bank with a high street presence; OP Bank Group: focusing on encouraging customers to use online self-service functionalities; Best practice in encouraging usage of online banking and maximizing cross-selling and sales opportunities
CHAPTER 4 THE FUTURE OF ONLINE BANKING: Introduction; Online banking penetration will continue to increase over the years; There are a number of measures that financial providers can take to promote and encourage customers to bank online
CHAPTER 5 APPENDIX: Supplementary data; Definitions; Current readings; Relevant links; Datamonitor's custom research capabilities; Retail Banking team contact details
List of Tables: Table 1: Online banking IT spend by country, 2005-2009; Table 2: Branch IT spend by country, 2005-2009; Table 3: Examples of standalone online banks and recent closures for a sample of European countries, September 2006; Table 4: Number of customers banking online with standalone Internet banks and major banks for a sample of providers, 2005 (Table 1 of 2); Table 5: Number of customers banking online with standalone Internet banks and major banks for a sample of providers, 2005 (Table 2 of 3); Table 6: Number of customers banking online with standalone Internet banks and major banks for a sample of providers, 2005 (Table 3 of 3); Table 7: Advertising expenditure for leading standalone online banks in the UK, 2003-2005; Table 8: Fineco's key statistics, 2004 and 2005; Table 9: OP Bank Group's service network, 30 June 2006; Table 10: OP Bank Group is a pioneer in online innovation; Table 11: Percentage of motor insurance consumers who changed their insurer at last renewal, split by how arranged insurance, 2005; Table 12: Number of online banking customers, 2002 and 2005; Table 13: Internet banking penetration among retail customers, 2005; Table 14: Number of active home Internet users for a sample of European countries, February 2005 and December 2005
List of Figures: Figure 1: Germany has the highest number of online banking customers in 2005, 2002 and 2005; Figure 2: The Nordic region has the highest Internet banking penetration, 2005; Figure 3: Among the sample of countries displayed, Sweden has the highest population penetration of active Internet users, February 2005 and December 2005; Figure 4: Bankinter in Spain has introduced co-ordinates from the customer's code card each time they sign an operation to decrease the risk of customers falling victims to 'Trojans'; Figure 5: Alliance & Leicester two-factor authentication process: We know it's you...You know it's us....; Figure 6: Percentage of UK consumers who have arranged financial products via the Internet, by product sector, 2004; Figure 7: Egg and First Direct are examples of standalone online players offering account aggregation to encourage usage from customers, September 2006; Figure 8: Rating of retail banking channel options with respect to various banking transactions and services; Figure 9: Alliance & Leicester uses its online channel to generate leads for its call center and branches, August 2006; Figure 10: Alliance & Leicester is able to reduce application process time by providing useful information online, August 2006; Figure 11: European retail banks' distribution channel project priorities; Figure 12: The Nordics are the only countries where IT spend for the online channel exceeds IT spend for the branch network, 2005; Figure 13: Examples of European banks split by online banking model, 2006; Figure 14: European online banking business models and strategic priorities; Figure 15: Egg invests significantly in raising brand and product awareness, Q3 2004 - Q3 2005; Figure 16: Egg is the biggest advertising spender among standalone Internet banks in the UK, 2003-2005; Figure 17: Fineco executed nearly 10 million retail orders in 2005, 2001-2005; Figure 18: Alliance & Leicester appeared twice in Moneyfact's current 'Best Buys' table for discounted variable mortgage products targeted at first-time buyers, September 2006; Figure 19: Alliance & Leicester uses demonstrations to introduce customers to Internet banking, September 2006; Figure 20: High penetration of online banking has led to a significant fall in the number of branches and personnel in Finland, 1970-2004; Figure 21: 41 per cent of eBanking users in Finland use OP Bank Group eBanking services, 2005; Figure 22: More than 90 per cent of OP Bank Group's basic retail banking transactions are conducted via the electronic channels; Figure 23: OP Bank Group has been focusing on encouraging its retail customers to self-serve via the Internet; Figure 24: "My economy" service for retail banking customers helps them create their own budgets and analyze their money flows; Figure 25: Easy access to daily banking operations via portable devices; Figure 26: Advanced interactive tools for stock trading and analyzing the markets, 1 of 2; Figure 27: Advanced interactive tools for stock trading and analyzing the markets, 2 of 2; Figure 28: Catering for the visually handicapped via a separate 'easy to use' service; Figure 29: OP Bank Group has a single integrated customer portal; Figure 30: OP Bank Group has reached the third stage of the development of its online banking channel; Figure 31: HSBC promotes products inside the online customer's secured site; Figure 32: Cahoot is encouraging uptake of other products by displaying all products as if the customer already had them; Figure 33: Barclays Bank is using a substantial amount of the screen to promote products; Figure 34: In the UK, Lloyds TSB probably has one of the most advanced online marketing strategies to logged in customers; Figure 35: Barclays has introduced 'instant access' in the UK; Figure 36: Lloyds TSB uses customer information to encourage use of accounts; Figure 37: Major high street banks in the UK are wooing students via promotional incentives, September 2006; Figure 38: Crédit Lyonnais in France is encouraging existing customers to introduce their friends, September 2006; Figure 40: The Nordics will continue to dominate in terms of eBanking penetration in 2010; Figure 40: e.LCL, the eBanking website of French bank Crédit Lyonnais, provides a number of articles for its online customers, September 2006; Figure 41: Alliance & Leicester uses pop-ups in the mortgage section of its website to offer the services of an online agent, September 2006; Figure 42: Datamonitor's core consulting capabilities

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