Online Financial Services in Australia - Market Research Report On Aarkstore Enterprise Australian online financial services is a rapidly growing and evolving market segment. There have been changes to consumer attitudes, regulatory environment, technology and security. Going forward, the online channel is expected to become yet more important for financial services providers. Features and benefits -Includes a comprehensive overview of online financial services in Australia. -Provides survey data on consumer attitudes and behavior relating to online financial services. -Discusses security issues and two-factor authentication. -Analyzes current and future trends in the market. Highlights According to a recent consumer survey, only 13% of transaction account holders applied for their main account online, whereas 38% of consumers would like to apply online. Most Australian banks have either added or are in the process of introducing new tools for personal financial management (PFM) in their online banking platform. Through these tools, users can track their product holdings, budget for the future and perform different analyses of their financial position. Australian banks have gradually moved from seeing social media as a threat to embracing it as a way to forge closer ties with customers. Your key questions answered Improve your strategic position using our in-depth analysis of the Australian online financial services market. Understand the unique challenges the online financial services market is facing, and benefit from forecasts of future developments. Learn about what consumers think about online financial services, and how to increase online uptake. Online Financial Services in Australia Online Financial Services in Australia 2008 Table of Contents : Overview 1 Catalyst 1 Summary 1 Executive Summary 2
Online financial services gains momentum but still faces challenges 2 Australian banks are honing their online strategies 3 The growth of price comparison sites in Australia may spur online applications 5 Online Financial Services Gains Momentum but Still Faces Challenges 10 Online uptake and usage has increased but online applications need to be improved 10 Mobile banking is growing at an increasing rate 20 Reaching late adopters will become more important for financial services providers 24 Australian Banks are Honing their Online Strategies 28 Consumer attitudes to the banks vary 28 New security solutions are constantly being evaluated 33 New value-added services enhance internet banking 42 The Growth of Price Comparison Sites in Australia May Spur Online Applications 46 Price comparison sites are globally growing in importance 46 Australians have lower trust in PCS and are less likely to have applied for financial products 48 There are obstacles to applying through a PCS for financial products 50 Appendix 53 Data tables 53 Methodology 58 Further reading 59 Ask the analyst 59 Our Consultancy 59 Disclaimer 59 For some-more information, Great fully visit: http://www.aarkstore.com/reports/Online-Financial-Services-in-Australia-80820.html