Online Banking
The Internet Serves Regular Customers

Well over half of bank customers – 63% to be precise – are now completing simple transactions such as transfers or account enquiries online, regardless of how old they are. Amongst customers who would describe themselves as “digitally savvy”, this figure stands at 96%.

Online banking can primarily offer flexibility and speed, say the Roland Berger Strategy Consultants, who questioned 3000 account holders in Germany and Switzerland on the topic in retail banking. In addition, for around a quarter of those surveyed, the internet is the most important channel for discovering and finding out about new offers from banks.

This finding carries particular relevance against the backdrop of the fact that customers seldom change channels when purchasing a bank product – if they visit a bank advisor for information, they will buy from them too. However if they do switch, then it’s from online to offline, as lots of banks lack adequate opportunities to close the deal online. Therefore, Roland Berger recommends that banks expand their online offerings accordingly. (Source: Roland Berger/rf)