Logging On: Making the Most of the Online Channel - Market Research Report On Aarkstore Enterprise Introduction Online banking, despite being a relatively new channel in historic terms, has achieved mainstream acceptance by consumers around the world. The channel is quickly changing, and new functionality is constantly being added. At the same time, mobile banking has emerged as a new channel for transactional activity, adding another access point for consumers. This report is the second in the global customer experience series, and focuses on the online channel. It assesses the current state of online and mobile banking provision across the world, and discusses likely future developments. Scope of this research • Examine the latest developments in online and mobile banking. • Presents results from Datamonitor’s Financial Services Consumer Insight Survey to highlight consumer preferences regarding online banking. • Learn how the provision of new online services and functions can enhance the customer experience. • Discuss the future shape of online and mobile banking provision. Research and analysis highlights Online banking has achieved mass acceptance. For many consumers, it has supplanted the branch as the primary channel for conducting basic transactions. The online channel has also become a significant sales and acquisition medium for many financial products. New developments in the online sphere are emerging all the time. Increasing engagement with social media can help to strengthen customer relationships. The growth of mobile banking and added website functionality are also helping to transform the online experience and facilitate consumers’ lifestyles. Mobile banking will experience rapidly change in the coming years. From the basic provision of text-based alerts, this channel will eventually allow comprehensive payment and money transfer services. Mobile phones will become the main means by which consumers interact with their banks. Key reasons to purchase this research • Find out about the latest trends in online and mobile service provision. • Read case studies of providers who have brought in particularly noteworthy innovations in online and mobile banking. • Assess the possibilities for the future evolution of online and mobile banking.
Table of Contents : Overview 1 Catalyst 1 Summary 1 Methodology 1 Executive Summary 2 Managing finances online has become a mainstream activity 2 Personal finance managers are in the vanguard of providing added-value services online 2 Mobile banking will become the main channel of interaction for many consumers 5 Consumers in developing markets view mobile banking provision as highly important 5 Mobile banking has the potential to greatly enhance the customer experience 6 Social media will become a valuable tool for a minority of institutions 7 Banks with already strong customer relationships have the most to gain from using social media 7 Evaluating the Customer Experience 18 What does customer experience mean? 18 The evolution of customer experience 18 The importance of generating a satisfying customer experience 20 Providers are starting to focus on customer experience management 20 Most banks now have in place extensive programs to monitor customer satisfaction 21 Customer loyalty is the key to profitability 21 Financial providers need to improve the quality of the customer experience they provide 24 There is much room for improvement in the standards of service that banks provide 24 Banks should focus on differentiating their customer experience 25 Creating an attractive customer experience can enable banks to charge a premium for their offering 26 Online Banking has Come of Age 27 Consumers in all regions are increasingly moving online 27 Improvements in technology have boosted uptake of online services 27 The migration of routine banking to remote channels has freed up branches for other uses 28 Managing finances online has become a mainstream activity 28 Routine banking transactions are now mainly carried out online 29 Online application is becoming very significant for some financial products 30 For some-more information, Great fully visit: http://www.aarkstore.com/reports/Logging-On-Making-the-Most-of-the-Online-Channel32762.html