How Do Customers Use Online Banking?

Answered by:

Question:

We're getting ready to implement online banking. In terms of what customers will want and need, any advice?

Answer:

Surveys indicate that two-thirds of online banking customers -- perhaps even as many as 75% -- use online banking for three functions:
balance inquiry;
funds transfer;
history.

Bill pay is becoming more popular, but it has a long way to go before it achieves the popularity of the three functions above. Focus on making sure your system does a good job on those three.

First published on BankersOnline.com 1/15/01