October 22, 2007
Technology News: Online's Importance Shown
The article is a brief feature on the results of CashEdge’s second annual online banking consumer survey. “Eighty-five percent of respondents in a new survey are saying they would never bank with an institution that didn't offer online banking. Moreover, 82% of those surveyed say they would use more online banking capabilities if they were available, 73% of the respondents say they prefer opening and funding a new bank account online, and 65% would move their finances to another institution if it meant gaining access to more robust online banking capabilities.
Among the other findings:
- 87% of respondents have accounts at more than one institution and sixty-six percent of respondents said they would be ‘interested in transferring funds housed at different financial institutions.’
- 71% would like to use online funds transfer for making payments to "other people/third party" instead of paying by check or cash.
- 27% are interested in real time/immediate funds transfer even if it means an additional fee.”