Abstract
Overview
Introduction
With the advent of online banking in the 1990s, many believed that the online
channel had the potential to surpass traditional channels. While the number of
customers banking online has increased over the years, traditional channels
remain widely used by customers. Nonetheless, online banking has found its
place within the distribution strategies of the majority of providers.
Scope
- European countries covered: Belgium, France, Germany, Italy, Spain, the
Netherlands, the UK and the Nordic region.
- Sizes the number of online banking customers for the sample of countries
covered.
- Provides key competitor online banking statistics.
- Forecasts online banking penetration for 2010.
Report Highlights
The Nordics continue to be one step ahead of the other European countries in
terms of Internet banking penetration. Datamonitor estimates that 43.0 per
cent of banking customers in the Nordic region bank online.
Fraud is perhaps the major issue affecting the online channel. While all
channels are vulnerable to fraud, remote channels such as the Internet tend to
be the major focus of fraudsters.
Inactive customers remain an issue as many customers are still reluctant to
bank online. While banks have been relatively successful in signing up
customers to online banking via various marketing approaches, the fact remains
that a significant proportion of these customers do not actively use the
service.
Reasons to Purchase
- Learn about the changing role of the Internet as a distribution channel.
- Learn about providers' strategies to exploit the Internet within a number
of strategic areas such as retention, acquisition and marketing.
- Learn about the major issues affecting the progression of the online
channel and how providers are responding.
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