Online Banking Becomes Mainstream
February 20, 2008 | by Christopher Nickson
With one-third of consumers regularly banking online, it's definitely hit the mainstream.
Market researcher Gartner has declared that online banking has now officially become a mainstream practice, according to an Information Week story.
The company surveyed 2,000 people in the US and UK last summer, and determined that 71 million US adults (about one-third of the adult population) now bank regularly online (the UK figure is 14 million, or one-quarter). That’s enough for it to qualify as mainstream.
The research discovered that those who bank online tend to be younger and have higher incomes, and also make more use of ATMs and telephone banking.
Gartner researcher David Schehr said,
"The current usage levels in both countries show that adoption is now taking place within the mainstream of consumers, among people who use new channels and services if, and only if, they see intrinsic value from the new technology. Online banking has clearly made this transition in consumer minds."
So now that online banking has become widely accepted, what’s next? Smartphone banking, of course! AT&T already has a mobile banking app, and it can’t be long now before others follow.
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