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Interest in Online Banking Shows Rise in Consumer Confidence



The internet is changing the way we do everything from shopping, to watching TV and reading the daily news. But as comfortable as we are giving our credit card to a retailer online, we’re still constantly hounded by those two monstrous words – Security and Privacy.

Will my credit card number end up in the hands of thieves? Will I become a victim of identity theft? Will my employer find out things about me I don’t want them to know?

These are legitimate issues and we have a reason to be concerned, but a new study by Rosetta shows that convenience is starting to trump worry.

Rosetta conducted a study on banking and found that 52% of respondents do most of their banking online. Nearly half said that if they had the option, they’d do all their banking online. About the only thing keeping people tied to a bank branch is the need to withdraw and deposit cash. This may not be an issue much longer as more and more people make the move to plastic or digital dollars.

As much as folks liked the convenience of online banking they had some concerns. 64% did say they would like to see stronger security measures and 57% asked for easier navigation.

Why is all of this important to you, the marketer? I’ll tell you why. Because this survey shows that people are getting more comfortable with the concept of moving money around digitally. Think about it, next to medical records, there isn’t anything more sacred and scary than banking records. We’re constantly reminded to keep pin numbers in our head and to shred old checks and statements, watch our credit card statements and be wary at the ATM. But here we are (52% of us, anyway) willing to access our entire financial life through a wireless connection. And it’s not just home computers, we’re using our mobile phones to check our balances and transfer money before paying the bill at a restaurant.

If people are willing to take the banking risk, they shouldn’t have any qualms buying your products and services online. All you need to do is promise them that their information is safe and will be kept private. Then keep those promises and you’ll have a plenty of happy and loyal customers.