Trends Report

Many Online Banking Users Use Few Features

Why European Online Banking Users Don't Use All The Available Functionality

September 10th, 2007
Benjamin Ensor, null
Benjamin Ensor
With contributors:
Ashara Giordanelli , Michelle de Lussanet , Tim van Tongeren

Summary

While the majority of European banks now offer a wide range of online banking functionality, most of their customers don't use many of the available features. The most popular functions of online banking are checking account balances, looking at statements, and viewing recent transactions. But transferring money to others and setting up automatic payments are among features most online banking users leave idle. The substantial variations in online banking functionality use across Europe are partly due to differences in banking and payment cultures, but they can also help banking eBusiness executives prioritize which functionality to develop and promote.

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