Online business banking on the rise

Northwestern Financial Review, Oct 15-Oct 31, 2003

A survey released by Informa Research Services Inc. found that about 24 percent of companies with less than $1 million of annual revenue are using online banking, as are 44 percent of those with revenues between $1 million and $20 million. Smaller percentages use online bill payment. Seven percent of smaller firms and 15 percent of larger firms use the service.

Informa, of Calabasas, Calif., said the percentage of businesses with less than $1 million of revenue that are using online banking had doubled from a similar survey it conducted last year. The figure for the larger companies increased by 9 percentage points.