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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, 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 industry.

Author:

Mary T. Monahan, Partner and Analyst

Companies Mentioned:

AOL

Bank of America

Chase

Citibank

ClairMail

Corillian

Digital Insight

F1 Proprietary Solutions

Firethorn

First Data

Fronde Anywhere

Jack Henry

MasterCard

mFoundry

Microsoft

Mobile Commerce

MShift

Nature Conservancy

Spectrum Message Services

Visa

Wachovia

Washington Mutual

Wells Fargo

Yahoo!

Zingerang

For more information, visit http://www.researchandmarkets.com/reports/c62063
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
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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