Academic journal article ABA Banking Journal

'Make Web Banking Smoother'. (Briefing)

Academic journal article ABA Banking Journal

'Make Web Banking Smoother'. (Briefing)

Article excerpt

Don't worry so much about adding new bells and whistles to your web banking functions--concentrate on making your present offering a seamless, trustworthy banking experience. That's the gist of an intensive Gomez study of more than 3,500 internet-using households. Gomez divided its database into two categories: Customers who bank on the web (40%--the "webbies") and wealthier customers who bank offline (40%--the "offliners"). Both kinds use the internet.

The study gathered and analyzed responses on these questions: How to get new customers to sign on? Why do some abandon web service? What are the most attractive features? Is web banking profitable? What are the best strategies for getting and holding customers? Here are some highlights and suggestions from the Gomez research:

* Webbies are good customers. 59% of them use the service more now than they did a year ago (only 3% used it less), and have an average of 2.3 accounts with their primary bank.

* Only 28% of webbies use billpay regularly. 68% of them have never paid a bill over the web, even though those who use billpay regularly (in the last month) are more satisfied with their service and than they were a year ago and increased their account balances in the last year. …

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