Financial Services > e-banking > Banking news
Abbey predicts online banking future

Tue, 07 Nov 2006

Abbey has stated that many more small businesses will rely on online banking in future.

The company has predicted that online banking is set to boom, as it is better able to suit the needs of busy entrepreneurs who do not have the available time to bank via traditional methods.

Additionally, Abbey claimed that more adults will use online banking services to manage their own finances, as a fifth of adults will have internet access via other means than a PC by 2010.

The age and gender profile of online banking customers could also alter considerably in future, with more silver surfers and women utilising the service.

Ian Wilson, managing director of Abbey Business, commented: "In a relatively short space of time, online banking has become the first choice for many people regardless of gender, age, socio-economic background or location."

He added that many consumers enjoy the convenience of online banking to carry out a number of operations, including opening accounts and transferring funds from home or at work.

Online payment service PayPal recently claimed that the internet is "safer than the real world" for fraud.


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