2009年線上銀行及線上付費服務市場之展望

Abstract

Overview

Financial institutions need to be aware that in the midst of this banking crisis, consumers are unusually sensitive to fees and are prone to switching banks. Seven years of Javelin consumer survey data underscore the necessity of designing banking products and services to serve the customers' craving for financial control, as 8 out of 10 online households now bank online. The industry has made laudable strides in bringing customers to their Web sites to bank and pay bills.

For the first time, slightly more consumers paid at bank sites than at biller-direct sites. Yet many banks and credit unions have been slow to upgrade, creating a wide gap in online capabilities and usage between the nation' s four biggest banks - Bank of America, Citi, JPMorgan Chase and Wells Fargo - and smaller regional, community banks and credit unions.

• How fast will online banking and bill-pay adoption grow over the next five years?
• How active are users of online-banking and bill-pay services?
• Can banks use online-banking and bill-pay services to boost revenues, increase customer loyalty, reduce costs and create cross-selling opportunities?
• Can mid-size banks and credit unions boost the performance of their online-banking services to better compete with giant national financial institutions?
• What services can make online banking more appealing to consumers?

• Financial institutions: E-commerce, mobilebanking and marketing strategists.
• Vendors: Online-banking platform providers, online-banking vendors, online-banking marketing.
• Others: Personal finance Web sites.

Author: Mark Schwanhausser, Analyst, Multichannel Financial Services

Methodology

This report is based mainly on data collected online from a random-sample panel of 2,779 households in April 2009. The survey targeted respondents based on representative proportions of gender, age and income compared to the overall U.S. online population. Overall margin of sampling error is & plusmn;1.86% at the 95% confidence level.

This report is additionally based on data collected online from a random sample of 2,350 households in March 2008. The survey targeted respondents based on representative proportions of gender, age and income compared to the overall U.S. online population. Overall margin of sampling error is & plusmn;2.02 percentage points at the 95% confidence level. It is also based on data collected online from a random sample of 2,714 consumers in March 2008 and 2,800 respondents in March 2007. The surveys targeted respondents based on representative proportions of gender, age and income compared to the overall U.S. online population. Overall margin of sampling error is & plusmn;1.88 percentage points at the 95% confidence level and & plusmn;1.85% at the 95% confidence level, respectively. This report is also based on data collected through a telephone-CATI survey from a random-sample panel of 4,784 respondents in October 2008, including 487 identity fraud victims. The survey targeted respondents based on representative proportions of gender, age and income compared to the overall U.S. online population. Overall margin of sampling error is & plusmn;1.4 percentage points at the 95% confidence level and & plusmn;4.4% at the 95% confidence level for the identity fraud victims.

Finally, it was based on data collected online from a random sample of 2,339 consumers in September 2008. The survey targeted respondents based on representative proportions of gender, age and income compared to the overall U.S. online population. Overall margin of sampling error is & plusmn;2.03 percentage points at the 95% confidence level.

Secondary data from public sources such as the U.S. Census Bureau and the Bureau of Labor Statistics was incorporated into the forecasts.

The majority of Javelin data for online banking and bill pay is based upon “households” vs. “individual consumers.” This is a typical way of presenting online-banking and bill-payment data because bills are normally paid on a per-household basis. In 200 9, the U.S. population was estimated to comprise 306 million people. That includes 232 million adults, 118 million households, and 86 million households that are online. On average, there are about 2.6 people per household. Javelin also collects online-banking data using a base of all consumers for comparison purposes.

The analysis of financial institutions by size was based on where households maintain their primary banking relationship. Institutions were divided into four categories based on total deposits as of Dec. 31, 2008, according to rankings by American Banker.

• Giant national banks: Deposits greater than $750 billion (JPMorgan Chase, Bank of America, Wells Fargo and Citi).
• Large regional banks: From $30 billion to $200 billion in deposits.
• Regional or community banks: Less than $30 billion in deposits.
• Credit unions: All credit unions, except for Navy Federal Credit Union, which was classified as a large regional based on deposits.

For the first time this year, Javelin collected “last 90 day“ figures for benchmarking purposes. These are shown in the Appendices, under Figures 34 and 36, pages 61 and 62 , respectively.

Table of Contents

• Overview & Key Findings
• Methodology
• Executive Summary
• Key Recommendations
• Five-Year Forecast for Online Banking, Bill Presentment and Bill Pay
  • Households vs. Consumers
• This is an Unusual Moment in Banking History
• Trends in Online Banking
  • Most Americans Now Bank Online Every Week
  • Reasons for Holding Out Are Concentrating
  • Nearly Half of Community Bank Customers See No Value in Online Banking
  • Online Banking: A Banking Basic
• Trends in Online Bill Pay
  • Percentage of Consumers Who Paid a Bill Online in Previous Month
  • How Many Consumers Used a Bank or Biller?
  • Bank Bill Pay Reaches Milestone at 50% of Online Households
  • Consumer Preference on Bill Pay is Flat
  • Banks and Billers Are Running Neck and Neck With Regular Bill Payers
  • National Banks Dominate in Bill-View, Bill-Pay Arena.
  • Key Targets for Bill Pay: Tech-savvy and Affluent Customers
  • Appeal of Bill-pay Simplicity Should Extend to Non-Bank Bills
  • Bill Pay is Eating into Snail Mail
  • Where Banks Have the Edge Over Billers.
  • Where Billers Have the Edge Over Banks
  • National Banks Hold Strong Edge Over Smaller Banks, But Credit Unions Hold their Own Community Bank Customers Are Much More Likely to Pay by Check
  • Where Does Gen Y Generally Prefer to Pay?
  • What' s the Top Motivator to Pay More Bills Online?

• Features, Trends and Market Segments to Target in 2009-10
  • Personal Finance Management Tools
    • How Javelin Scored Seven Personal Finance Management Vendors
  • Online Account Opening
    • High Failure Rates Leave a Bad First Impression
  • Green Banking and the Paperless Push.
    • Most Consumers Still Cling to Paper Statements
  • Targeting Gen Y
    • Gen Y Already is Developing Online-Banking Pay Habit
  • Expedited Payments
• Appendix
• Related Research
• Companies Mentioned

Table of Figures

• Figure 1: Millions of Households Viewing and Paying Bills Online 2009-2014 and CAGRs
• Figure 2: Millions of U.S. Households Banking, Viewing Bills or Paying Bills Online (2003-2014)
• Figure 3: Online Banking by Consumers Actual and Forecast
• Figure 4: Reasons for Switching Financial Institutions (Switchers in Past 90 Days vs. Previous 9 Months)
• Figure 5: Last Time Consumers Conducted Online-Banking Activity (2003-09)
• Figure 6: Why Consumers Do Not Bank Online (2004-07, 2009)
• Figure 7: Why Consumers Who Do Not Bank Online Won' t Try It (By Size of FI)
• Figure 8: Banking Transactions Performed in Previous 90 Days
• Figure 9: Method Used by Bill Pay Customers in Past 30 Days (Bank Bill Pay vs. Biller Direct)
• Figure 10: Bank Bill Pay By Household (Last 30 Days) Actual and Forecast 2003-2014
• Figure 11: Preference for Where Consumers Would Rather Pay (2008-09)
• Figure 12: Where Consumers Made Bill Pay Transactions in Past 30 Days (2007-09)
• Figure 13: Percentage of Consumers Who Viewed or Paid Bills Online in Past 30 Days by Size of Financial Institution)
• Figure 14: Consumers who have Paid a Bill Online through their Bank or Credit Union in the Past 30 Days
• Figure 15: Percentage of Consumers Who Pay Certain Bills by Deducting Payments From Their Checking Accounts
• Figure 16: How Consumers Typically Pay Bills
• Figure 17: Bills That Regular Online-Banking Customers Prefer to Pay Through FIs vs. Billers
• Figure 18: Bills That Regular Online-Banking Customers Prefer to Pay Through Billers vs. FIs
• Figure 19: Percentage of Consumers Who Pay Specific Bills Through Bank or Credit Union (By Size of Financial Institution)
• Figure 20: Consumers Who Typically Pay Specific Bills By Check (Community Banks vs. National Banks)
• Figure 21: How Gen Y Customers Typically Pay Various Bills (FI vs. Biller Sites)
• Figure 22: Motivations to View More Bills Online
• Figure 23: Rankings Based on ‘Customer-Driven Architecture' Model
• Figure 24: Outcome of Consumers Who Applied to Open a Checking Account Online
• Figure 25: How Customers Receive Primary Credit Card Statements.
• Figure 26: Last Time Conducted Online-Banking Transaction (Gen Y vs. All Consumers)
• Figure 27: Consumer Usage of Expedited Payments 2005-2008
• Figure 28: Online Banking By Household (Last 30 Days) Actual and Forecast 2003-2014
• Figure 29: Viewing Bills at Bank Site By Household (Last 30 Days) Actual and Forecast 2003-2014
• Figure 30: Viewing at Biller Site By Household (Last 30 Days) Actual and Forecast 2003-2014
• Figure 31: Biller-Direct By Household (Last 30 Days) Actual and Forecast 2003-2014
• Figure 32: Consumers Conducting Bill Viewing and Payment Activities (Last 12 Months)
• Figure 33: Reason for Switching Banks (Longitudinal 2007-2009)
• Figure 34: Online Banking, Transfers and Other Activities (Last 90 Days)
• Figure 35: Online Bill Pay and View at Banks and Billers (Last 90 Days)

Companies Mentioned

• Bank of America
• CashEdge
• Citi
• Digital Insight
• Fiserv
• Geezeo
• Harland Financial Solutions
• JPMorgan Chase
• Jwaala
• Metavante
• Mint
• S1
• Wesabe
• Wells Fargo
• Yodlee