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Online Banking Market Softens
- Article from:
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Community Banker
- Article date:
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June 1, 2008
- Author:
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Copyright informationCopyright America's Community Bankers Jun 2008. Provided by ProQuest LLC. (Hide copyright information)
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After years of growth, the online banking world may appear to be softening, according to a new survey. A look at the top 10 online banks by comScore (Reston, Va.) shows a slowdown in the number of online banking customers.
The 2008 comScore Online Banking Report assessed the online banking behavior of more than 2,500 U.S. banking customers.
While 2003 and 2004 saw strong online banking growth, that market appears to be softening since 2005. Liquid deposit account logins, which include checking, savings or money market accounts, grew in 2007 at a rate of only 8.1 percent at the top 10 online banks.
In addition, the number of customers who accessed online a liquid account dropped in Q3 2007 ...