Americans prefer online banking - ABA survey

For the first time, more US bank customers express a preference for managing their finances online compared to any other method, according to a survey from the American Bankers Association.

Source link

The survey of 1000 people, conducted for the ABA by Ipsos-Reid, shows online banking is preferred by one-in-four of the sample. It is the most popular method among all customer age groups under the age of 55 although older people still prefer visiting branches.

The survey also shows mobile banking is yet to make the predicted breakthrough, cited as the preferred method by only one per cent, with most of these being 18 to 24 year olds.

Branch banking is the second most popular method, cited by 21%, with 17% preferring to use ATMs and four per cent the telephone.

Nessa Feddis, senior counsel and retail banking expert, ABA, says: "This marks a watershed change. It tells us that for the first time, more consumers prefer the speed and convenience of conducting their banking transactions on the Internet than visiting their local branch. It also tells us that consumers now have confidence in the accuracy and security of online banking."

A recent poll sponsored by vendor Fiserv found that more than two million US households have adopted online banking and bill payment during the last year, meaning the services are now used in over three quarters of homes with Internet access.

Recent Entries

Tokenization and your store
New approach shapes how retailers secure private information and consumer confidence against data breachesWith stores located in various states and,…
Americans prefer online banking - ABA survey
For the first time, more US bank customers express a preference for managing their finances online compared to any other…
IKEA Execs Discuss Launch Of US Loyalty, Use Of Mobile Medium
Written by Amanda Ferrante   Tuesday, 15 September 2009 00:00Well known for its innovative approach customer relationship management, home furnishings retailer IKEA has…
First Data And RSA "Legitimize" Tokenization-Then What?
The conventional wisdom is that when large vendors enter a niche market, those vendors "legitimize" that market. But the announcement…
New driver license legislation proposed
Some believe that new proposed driver license legislation would help states better secure IDs while also protecting citizen privacy. Others…
Patients are keen on self-service healthcare
American are taking a shine to self-service healthcare.They may not be snatching the scalpel out of their doctor's hands and…
Touchscreen Technology Website
News from 3M on multi-touch and also launch of new "education" site touchtopics.com which is to explain all various touchscreen…
PCI Best Practice Supplement for Merchants
August 2009 release of best practice doc, PCI_skimming_prevention_form.pdf, directed at skimming attacks. Illustrates how exposed terminals in POS are targeted by…
Cloud Computing - Does Amazon fail PCI Compliance?
There's an ongoing debate about the ability of cloud computing services to meet enterprise regulatory compliance requirements, including the Payment…
End-to-End Tokenized Encryption
EPX now extends data protection to what I call the 'first inch" of a transaction, i.e., from the plastic to…
Guidelines - PCI DSS Wireless Guideline Supplement
Dcument purpose  - This document provides guidance and installation suggestions for testing and/or deploying 802.11 Wireless Local Area Networks (WLAN)…
Healthcare - Building Kiosks From Scratch
In an era of consumerism, physician group practices are looking for ways to improve customer service and gain loyalty. So…
Trends - Number of retail medical clinics shrinking
Projections that showed there would be 2,500 retail clinics operating by 2010 are coming up short as the industry has…
Wireless transactions and PCI DSS 1.2 Compliance
Article covering wireless transaction and protocols in context of PCI compliance. Amazing that 11% use WPA2. Gist of article is…
EMV Level 2 - Just what does it mean?
The purpose and goal of the EMV standard is to specify interoperability between EMV compliant IC cards and EMV compliant…
CUPPS: The Platform of the Future (Airline Kiosk)
CUPPS has been architected as the platform of the future, able to accommodate many things even beyond the agent-facing applications…
EMV takes aim at U.S.
Nice article on SecureIDnews covering EMV. by Andy Williams, Associate Editor, Avisian PublicationsLike a massive tidal wave, EMV continues to roll…
Tokenization and Enterprise Security
Nice article on tokenization which also highlights lack of formal standards for tokenization at this time.¬†Credit Card Tokenization: Put All…
Wal-Mart's Kiosk Trial Raises Serious PCI, Data Ownership Issues
Wal-Mart this month became the latest major retailer to experiment with self-service kiosks, selling space in 77 stores for units…
Proximity (NFC) Mobile Payment Technology - Security Whitepaper
The opportunities offered by the advent of proximity mobile payments are clear; differentiated payment services, increased transaction volumes, faster transactions,…



  |