Search
 

Part of the Pack: Online Banking Growth, Integration Makes it Hard to Separate from Other Channels

Online banking is expected to continue to grow moderately over the next few years, and it also will become increasingly hard to justify measuring that channel as a separate entity, according to a recent TowerGroup report. TowerGroup estimates that slightly over 24% of U.S. households currently bank online, representing approximately...

By Staff Writer | Updated on June 24, 2003

Online banking is expected to continue to grow moderately over the next few years, and it also will become increasingly hard to justify measuring that channel as a separate entity, according to a recent TowerGroup report. TowerGroup estimates that slightly over 24% of U.S. households currently bank online, representing approximately 40% of all U.S. households with Internet access. The financial services think firm expects online banking to grow moderately at a compound annual growth rate of 8.7%, reaching 36.8% household penetration by the end of 2007. The firm’s analysts say they believe that online banking has matured to the point that it should be viewed as a standard delivery channel, and that ROI calculations not only tend not to fully reflect the impact of this channel on customer profitability but instead can minimize the importance of a cohesive, multichannel delivery strategy.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.