Online Banking Spirals, Security Concerns Remain

Online Banking Spirals, Security Concerns Remain

About 33 percent of adults throughout the UK use online banking service, but concerns over data security still remain.
 

A survey by Gartner, which was participated by approximately 4,000 consumers, revealed that  a significant number of residents in the UK are making bank transactions online. Around 30 percent of those polled said they had used online banking service last month, and 50 percent of which were earning handsome paychecks. 

 

Nevertheless, 38 percent of those respondents said they wouln't move to online banking for security reasons. Another 58 percent said they would rather use other channels.

 

Alistair Newton, an analyst at Gartner, said online banking has become a basic commodity among individuals mainly because of the huge improvement in broadband services. 

 

"From a bank's point of view it really means that, once you get mainstream adoption, you've got to think about the web more broadly - as more than just another delivery channel,"  Alistair explained.

 

"They have to think of the web as a channel which is integrated with the rest of their channels - branch, phone and mobile - and to recognise that the two minutes a day their customers use their site are not the only times they use the internet."