Table of Contents
- Introduction and Abbreviations
- Introduction
- Scope of the report
- Abbreviations and terms
- Abbreviations
- Executive Summary
- Growth in online access
- Marketing online services
- Innovation and adaptation is key
- The online banking industry
- The online banking consumer
- Market Drivers
- Overall Internet usage
- Growing population
- Figure 1: Projected population of the U.S., by age: 2010-50
- Adult Internet usage still growing
- Figure 2: Percentage of adults online, 2001-06 Figure 3: Estimated
number of adults who are online, 2001-05
- Figure 4: Adult online population by gender, race/ethnicity, education,
and household income, 2006
- Broadband expansion
- Figure 5: Growth in broadband composition and PC time among active
Internet universe (U.S.,
- Federal government's role in marketing broadband
- Figure 6: Total U.S. high-speed Internet lines
- The role of online banking in real organic growth
- Figure 7: Organic growth strategy at Bank of America, 2006
- Online banking and women
- Online banking and Generation X
- Figure 8: Percentage of Generation X members who have tried online
banking, 2002-04
- Echo Boomers and online banking
- Figure 9: U.S population by generation, 2006
- Figure 10: Average annual minutes of usage of select finance websites by
U.S. university internet users (average minutes per visitor), 2006
- Getting Hispanic consumers online
- Figure 11: Race and Hispanic or Latino origin of the population for the
United States: 2004 and 2005
- Figure 12: Population by race and Hispanic origin, 2001-11
- Figure 13: Concerns about financial future, Hispanics online vs. general
online population, 2005
- Growth of online bill pay and presentment
- Figure 14: Leading factors in choosing a bank, 2005
- Figure 15: Most important overall benefit of online bill pay according
to users, 2006
- Figure 16: E-bill payers satisfaction with bank, online banking, and
online bill pay, 2006
- Innovation and differentiation of services critical to growth
- High-interest yielding accounts
- Figure 17: Highest yield money-market accounts, May 22, 2006
- Consumers and online security
- Market Size and Segmentation
- Market size
- Figure 18: Use of Internet and online banking, 2002-05
- Figure 19: Online banking usage by proportion of population and number
of individuals, 2002-05
- Figure 20: Household access to broadband services, 2000--10 (proj.)
- Market segmentation
- Figure 21: Top online full-service bank and credit union destinations,
week ending April 23, 2006
- Full-service banks
- Figure 22: Active online banking users: top 10 banks (thousands), 2006
- Online-only banks
- Competitive Landscape
- Companies and brands
- Full-service retail banks
- Bank of America
- Citibank (Citigroup)
- JP Morgan Chase
- Wells Fargo
- Wachovia
- Washington Mutual
- Online-only banks
- ING Direct
- E*Trade Financial
- NetBank
- Bank of Internet USA
- Advertising and Promotion
- Online advertising on the rise
- Figure 23: Top bank brands, ordered by sales and adspend, 2004
- Figure 24: Top banks and thrifts in U.S. ad spending, 2005
- Marketing to Generation X and Echo Boomers
- Customer-guided marketing
- Marketing efforts for online-only banks
- Rewards and incentive/loyalty programs
- Marketing to Echo Boomers
- Bank advertising
- Bank of America
- Citibank
- Figure 25: "Living Rich" Advertisement, 2006
- JP Morgan Chase
- The Consumer
- Introduction
- Summary highlights of consumer data
- Internet banking services used
- Figure 26: Internet banking services used by those with bank or
brokerage accounts, by age, April 2006
- Figure 27: Internet banking services used by those with bank or
brokerage accounts, by gender, April 2006
- Figure 28: Internet banking services used by those with bank or
brokerage accounts, by income, April 2006
- Figure 29: Internet banking services used by those with bank or
brokerage accounts, by race/ethnicity, April 2006
- Why online banking services are not used
- Figure 30: Respondents with bank or brokerage accounts who do not use
online banking services, reasons why not, by age, april 2006
- Figure 31: Respondents with bank or brokerage accounts who do not use
online banking services, reasons why not, by income, april 2006
- Likelihood of opening an Internet banking account among non-users
- Figure 32: Respondents with bank or brokerage accounts who do not use
online banking services, likelihood of using internet banking in the next
year, by age and income, April 2006
- Level of use of Internet banking services
- Figure 33: Respondents who use online banking services, how used, by
age, April 2006
- Figure 34: Respondents who use online banking services, how used, by
income, April 2006
- Desired features of online banking accounts
- Figure 35: Features that online banking users like or would prefer to
have, by age, April 2006
- Figure 36: Features that online banking users like or would prefer to
have, by income, April 2006
- Type of institution used for online banking
- Figure 37: Type of institution used for online banking, by age, April
2006
- Figure 38: Type of institution used for online banking, by income, April
2006
- Frequency of personal interaction with banks and use of ATMs
- Figure 39: Frequency of personal interaction with banks, by age, April
2006
- Figure 40: Frequency of personal interaction with banks, by income,
April 2006
- Figure 41: Frequency of ATM use, by age, April 2006
- Figure 42: Frequency of ATM use, by income, April 2006
- Future and Forecast
- Future trends
- Broadband growth and Internet expansion
- Demographic changes transforming the market
- Figure 43: Percentage of college students who keep their accounts after
graduation, 2005
- Getting Hispanic consumers online
- Consumers expect constant innovation
- Threats from non-banks
- Market forecast
- Overview
- Figure 44: Forecast of Online banking usage by proportion of population
and number of individuals, 2006-08
- Forecast factors
- Appendix: Trade Associations
- Appendix: Advertising and Promotion
- Television
- Figure 45: Bank of America television advertisement, 2006
- Figure 46: Bank of America television advertisement, 2006
- Figure 47: ETrade television advertisement, 2006
- Figure 48: ETrade television advertisement, 2006
- Figure 49: FifthThird Bank television advertisement, 2006
- Figure 50: FifthThird Bank television advertisement, 2006
- Figure 51: HSBCDirect television advertisement, 2006
- Figure 52: Wachovia television advertisement, 2006
- Direct mail and print media
- Figure 53: AmSouth Bank direct mail advertisement, May 2006
- Figure 54: National City direct mail advertisement, May 2006
- Figure 55: INGDirect direct mail advertisement, May 2006
- Figure 56: CapitalOne print advertisement, April 2006
- Figure 57: Netbank direct mail advertisement, May 2006
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