Online Banking Gains Wide Popularity Among Customers

According to the New Bank Innovation Monitor, most consumers are developing a love for online banking. In fact, several features of internet banking have been embraced by the various clients of banks worldwide. Certain features are also becoming standard across many different banks. Interestingly, the number of bank customers visiting bank organizations is now down. So when you visit your side and wonder where the PNC online banking login customers have gone. Chances are, they are luckily staring at their computer screens at home or at the office, looking at their accounts online.

For the third 1 fourth of 2011, Bank Innovation Monitor found out that customers particularly liked three kinds of internet banking application: Bank account balances online, online bills payment and transferring funds between different accounts. These services were shown to have an awareness level of at least 77%. Interestingly, only 3. 8% of Americans in legal age don’t know internet banking. This clearly ensures that internet banking is becoming one of the most favored forms of banking nowadays.

According to the survey, however, consumers love the bills payment facility most of all. Traditionally, customers are yet to expressed any sort of “love” for the services that their banks offer. But thanks to the convenience of the bills payment facility, consumers are able to enjoy an extra level of convenience in managing their finances.

The rate of adopting of internet banking, however, has reached a plateau. This means that it is increasingly more difficult to gain new users for online banking. It’s been handed down with bank account balances online. According to the same survey, however, there is a big room for growth in the adopting of tools such as email alerts and text alerts, related to payments of accounts and other bank services.

The touch point now for most banks is their online banking webpage. Most consumers visit their online bank webpage as much as three times every week. For consumers who need to check their balances, they do so at least one time a day. This also helps customers monitor their accounts for any possible fraud.

Only 11% of online banking customers have visited an online personal financial management website such as Mint. But 20% expressed the interest to visit and explore the details of such sites.

This growth in the awareness of online banking systems is expected to go higher yearly few years. Unless, of course, new trends will overtake the market. Another important trend to look out for is the use of mobile phone handsets and mobile phones in online banking. The capabilities of mobile phone handsets have increased. So, it is just expected for people to use it for their banking needs.

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