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Over the Past Three Years Online Banking and Bill Pay Adoption Have Plateaued, and 38 Million Consumers Are Less Likely to Recommend Online Banking in 2007 than in 2005.



DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c62063) has announced the addition of the new Javelin Strategy "2007 Online Banking and Bill Payment: Trends, Forecasts, and Strategies for Reinvigorating Growth and Adoption" to their offering.

With over half of the US, household population now banking online, online banking and bill pay have finally achieved mainstream acceptance. Over the past three years, online banking and bill pay adoption have plateaued, and 38 million consumers are less likely to recommend online banking in 2007 as in 2005.

Javelin has used five years of longitudinal data to create a forecast model to deliver projections of adoption through 2012 for online banking, consolidated bill presentment See EBPP. , and online bill pay (FI and biller-direct). Javelin also explores the benefits of green banking and its impact on consumer behavior and adoption.

Using quantitative consumer research and case studies of select top ten U.S. financial institutions Javelin has clearly outlined the next steps for FIs and vendors to reinvigorate growth, adoption, and profitability of the online channel.

Primary Questions

-Where is online banking and bill pay headed over the next five years?

-What prevents holdouts from adopting online banking and how can they be successfully persuaded to switch?

-What capabilities must FIs include in online banking and bill pay to capture market share?

-Which marketing and consumer education messages will best drive consumer adoption?

-How can FIs improve the migration of online bankers into online bill payers?

-Which new features and enhanced services will increase transaction volume and loyalty among existing online bankers?

Audience: Financial institutions, specifically online banking groups; and security and messaging vendors to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 industry.

Author:

Mary T. Monahan, Partner and Analyst

Companies Mentioned:

AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services.  

Bank of America
See also:  and


Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
 

Chase

Citibank

ClairMail

Corillian

Digital Insight

F1 Proprietary Solutions

Firethorn firethorn: see pyracantha.  

First Data

Fronde Anywhere

Jack Henry

MasterCard

mFoundry

Microsoft

Mobile Commerce

MShift

Nature Conservancy Nature Conservancy, nonprofit organization established in 1951 to preserve or aid in the preservation of natural environments. It protects wilderness areas in the United States and Canada and is affiliated with similar groups in Latin America and the Caribbean.  

Spectrum Message Services

Visa

Wachovia

Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU.

Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association.
 

Wells Fargo Wells Fargo

armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147]

See : Protectiveness


Wells Fargo

company that handled express service to western states; often robbed. [Am. Hist.
 

Yahoo!

Zingerang

For more information, visit http://www.researchandmarkets.com/reports/c62063
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Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jul 9, 2007
Words:334
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