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Bookmark and Share Internet & Telephone Banking 2013 - Market Report

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Executive Summary

Technological revolution has caused significant change in the Internet and telephone banking market in recent years, and is expected to play a key role in shaping it in the future. There has been change to both the users and the overall products.

Internet banking, and mobile banking in particular, have been a major success story for the banking industry. Many of the everyday banking transactions that would once have required a branch visit can now be done online or using a smartphone or other mobile device. This includes applying for loans and overdrafts, as well as paying bills, checking balances, and making transfers. The ease and speed with which such transactions can now be carried out via the Internet has been a key factor in the service’s success from a customer perspective; at the same time, banks enjoy lowered overheads the wider spread Internet banking becomes.

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