Satisfaction with Online banking is on increase;A New Survey Suggests

Mortgage lending standards

New York- Though in recent past customers have been grousing against banks due to difficult to meet mortgage lending standards, decreasing savings interest rates and credit-card lines’ yet there are some grounds on which banks are playing well and these are their Web sites.

Strategic Business

Customers’ contentment

Customers’ contentment with online banking sites has considerably climbed during the last five years,as showed the results of a survey released Tuesday by ForeSee.ForeSee’s survey employs the University of Michigan’s American Customer contentment Index, and this year, the index listed a gain of 82 out of 100 for online banking that is 12% or 9 points up from a score of 73 in 2003.

Satisfaction is only because of people who are more contented with banking online than they were in past, stated by Larry Freed president and CEO of ForeSee.Other immense reasons he mentioned contain efforts by banks to enhance security, allow more kinds of dealings, and ease navigation.

Online banking

Online banking customers
Web site technology is pricey, Freed explained, but the profit is striking.The similar survey confirmed that deeply contented online banking customers were 31 percent more likely to purchase other services from the bank and 54 percent more likely to suggest the bank to others.

So as banks argue with a weakening credit environment and huge mortgage-related losses, they will require keep investing in their Web sites to get hold onto their customers.

Credit card companies

The survey considered clients occurrences with three types of financial institutions — banks, credit card companies and investment services firms.Results were not useless for individual banks.

Banks obtained the highest score out of the three financial kinds.

ForeSee’s study, started at, reviewed 1,600 respondents through an online survey at the first quarter of 2008.The margin of mistake for each of the industry scores was plus or minus 2 points.

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