Be service centric. Lower costs and provides services to your customer and increase potential revenue.
Consumers file income tax online, use budgeting software and trade stocks online. Of the more than 70 million consumers who go online daily, an estimated 53 million bank online, and some 20 million hold online brokerage accounts. Yet consumers are drowning in paper - bank statements, tax files, brokerage records and more. Despite the attempts of financial institutions to offer documents online via online account access, fewer than 20 percent of users have switched to online financial documents. Consider the following:
- Online banking was the fastest growing Internet activity in the U.S. from 2000 to 2004, according to the Pew Banking Report. Online banking increased from 16 million consumers in 2000 to over 63 million consumers (43% of Internet users) in December 2005. Among home broadband users, 55% banked online in 2005.
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