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Article: TowerGroup: Adoption Curve For Online Banking Has Yet To Crest.
- Article from:
- Credit Union Journal
- Article date:
- September 27, 2004
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The adoption curve for e-banking has apparently not yet crested. New research from The TowerGroup finds that adoption of e-banking by U.S. households continues to rise steadily.
"Online banking has officially become a standard delivery channel within a retail financial institution's integrated delivery system," said George Tubin, senior analyst in the Delivery Channels practice at TowerGroup. "In 1996, just 2.4-million U.S. households had signed up for online banking. By 2003, that number hit 29.2-million. And by 2007, TowerGroup expects close to 37% of all US households to be registered to bank online -a total of 42.5 million households. This equates to a ...