Academic journal article ABA Banking Journal

Banks Lead with Technology

Academic journal article ABA Banking Journal

Banks Lead with Technology

Article excerpt

Despite such enduring icons as marble pillars, teller stations, pinstripe suits, and vaults, the banking industry has moved beyond the stereotype in regard to its use of technology. Thanks in part, no doubt, to the ubiquitous automated teller ma chines, more than three quarters (78%) of bank customers agree that banks do a good job of making use of new technologies--one quarter strongly agree. Even people who are not bank customers agree in pretty much the same proportions.

Further, almost two thirds agree that banks are on the cutting edge of technology compared to other types of financial institutions.

The only sour note here is that the traditional users of new technologies--men, customers under 55, those with a college degree, and those with higher levels of income ($45,000 or more)--are more inclined to disagree with both statements.

The emergence over the next few years of smart cards and Internet banking into the mainstream of banking may change the views of even these "early adopters."

Do you CHOOSE your CUSTOMERS or do THEY choose YOU?

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