Consumers believe security is the most important feature of online banking, according to new research.
Analyst firm Gartner polled nearly 4,000 internet banking users in the UK and the US on the importance of 18 different online banking features and found that the ability to carry out transactions and conduct business securely is the most essential, followed by single sign-on.
They ability to make deposits online, set up a separate account to save up for a specific goal, create alerts for account and credit card balances and the ability to analyse spending and cash flow were also ranked highly by consumers in both countries.
Gartner also found that young online banker’s value features that enable customisation of their internet banking experience and seek additional financial planning tools to help them manage their money more effectively.
Meanwhile, older users look for tools that not only let them use current services more effectively, but also make the online banking service itself easier to use.
According to Stessa Cohen, research director at Gartner, the research also highlights the fact customers and banks "want very different things on a bank’s website".
Cohen explained: "Customers want to personalise their experiences, analyse their transaction and payment data, so they can better manage their money, pay bills and transfer funds, while banks want to sell customers more products."
"Banks that neglect personalisation trends now will sacrifice online and possibly mobile banking customers later."
Consumers Value Security Above All Other Online Banking Features
Financial Services > e-banking > Banking news
Consumers Value Security Above All Other Online Banking Features
Fri, 07 Aug 2009
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