Financial Services Industry
Industry: Email Alert RSS FeedTowerGroup: Adoption Curve For Online Banking Has Yet To Crest
Credit Union Journal, The, September, 2004
The adoption curve for e-banking has apparently not yet crested. New research from The TowerGroup finds that adoption of e-banking by U.S. households continues to rise steadily."Online banking has officially become a standard delivery channel within a retail financial institution's integrated delivery system," said George Tubin, senior analyst in the Delivery Channels practice at TowerGroup. "In 1996, just 2.4-million U.S. households had signed up for online banking. By 2003, that number hit 29.2-million. And by 2007, TowerGroup expects close to 37% of all US households to be registered to bank online -a total of 42.5 million households. This equates to a compound annual growth rate of nearly 9%."
Among the other findings of the research:
* More than 80% of American...
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