The number of customers using online banking services has increased by 27 per cent since 2004, according to new figures.
Figures released by Sainsbury's Bank shows that the trend of purchasing financial services online is set to continue as the number of visitors on its website continued to increase by 208 per cent over the past year.
Derek Bottom, deputy chief executive of the bank, said that busier consumer lives have resulted in an increasing number of people turning to the Internet.
"With more that 500,000 visitors each month, our online presence is pivotal to the bank's strategy to deliver high quality and competitively priced products in a way that customers find convenient and easy to use," he added.
The data shows the highest percentage of users visiting the bank's website are between 1pm and 2pm (random space here) as people try to avoid high street queues during their lunch hours.
This follows the research published by NOP World Financial, which shows that the number of individuals purchasing online financial products will rise from over three million to over four million in 2005.
The study showed that motor insurance was the most popular financial product accounting for 58 per cent of all purchases.
Growing trend of online banking
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