For eBusiness & Channel Strategy Professionals (Length: 4 pages)

July 18, 2008

High Touch Trumps High Tech When Switching Online Bill Payments

This is the fourth document in the "Growing EBPP Adoption And Usage" series.

by Emmett Higdon

with Benjamin Ensor, Brendan McGowan, Courtney Tincher


Executive Summary (This is a document excerpt)

While US banks have successfully leveraged technology to simplify the account opening process, little progress has been made in using technology to help new customers easily move their online bill payment info over from their existing bank. The technology solutions that exist today merely substitute one online process for another. When switching banks, bill pay users will benefit more from hand-holding during and after account opening than they would from these automated online switching tools. eBusiness executives will see better bill pay activation results from new checking account customers by focusing on in-branch efforts and employee incentives.

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Analyst: Emmett Higdon
Technology: eBusiness/eCommerce
Industry: Business-To-Consumer eCommerce, Consumer Financial Services, Consumer Industries, Consumer Portals & Search, Consumer Technology Adoption, eBusiness/eCommerce Strategy, Financial Services, Financial Services Technologies, Online Financial Products & Services, Retail Banking, Retail Payments
Geography: North America