Abstract
Expanded broadband penetration, familiarity with the Internet and the
increasing number of younger and minority households are boosting the growth
of online banking. By 2010, the number of online banking households in the US
will grow to 56.2 million, or 62% of total online households in the US.
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...
Table of Contents
Impetus
- US Online Banking Households, 20042010 (millions and % of total online
households)
Overview
Issues & Questions
The eMarketer View
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*,
FebruaryMarch 2005 (% of respondents)
Gen Y Graduates to Financial Services
- Usage of FinanceRelated 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 2002Q4
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 AtHome Internet
Access, JuneAugust 2005 (% of respondents in each group)
- Select Types of Web Sites that Are Visited by Female Internet Users in
Europe, 20032005 (% of respondents)
In the US, Time Is of the Essence, Sort Of
- Banking Channel Preferences for Select Financial Activities according to
US Adults, FebruaryMarch 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 HighYield Savings Accounts, January &
October 2005 (thousands of unique users and % growth)
- US Internet Users Accessing Online HighYield 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 InternetBased Financial
Transactions Are Safe and Secure, 20002003 & 2005 (% of respondents)
Twofactor Authentication Arrives
- Steps that US Consumers Feel Financial Institutions Should Take to
Strengthen Online Banking Authentication, November 2005 (% of respondents)
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