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BizReport : Research archives : April 21, 2008

comScore: Experience is key for online bankers

Online banking is becoming more popular everyday but just as in person banking, customer experience is the key. According to a recent report from comScore, the online experience - from customer service to widgets to chats - is what keeps users coming back.

by Kristina Knight

After several years of steady growth, the comScore report found that growth softened in 2007. The report found that growth to the top ten most popular online banking sites increased by only8% in '07; that is a nearly 2% decrease year over year.

“After several years of strong growth in the number of users of online banking services, it appears the market is entering its next phase,” said Brian Jurutka, vice president at comScore. “As a result, many of the top banks are realizing that customer servicing is of increasing importance in this competitive market and are therefore investing resources into online service enhancements, as well as mobile banking.”

Though growth has slowed, consumers continue to log on. According to the report, the best way to retain customers if for banks to take their online offerings to the next level. Rather than offering simple statements or investment advice, banks should begin offering live chats and widgets with savings and investment information.

Tags: online banking, online customer service

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