CAP GEMINI ERNST & YOUNG.(banking industry e-commerce initiatives cost savings reports)(Brief Article)

Banker, The, October, 2001

A recent report by Cap Gemini Ernst & Young on the financial services industry claims that e-commerce initiatives have failed to deliver the expected cost savings for banks. In its 10th year, the report includes the views of the leaders of financial services institutions from 120 institutions in 13 countries. The failure is mainly attributed to the lack of consumer uptake of online banking.

Banks are having to rethink their business strategy following a disappointing take-up of e-commerce channels. Banks appear to have overestimated customer use of the internet, and also bad online experiences have made customers unwilling to use this mode of transaction.

Jonathan Charley, vice-president of Cap Gemini Ernst & Young, says: "Financial services...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.