Broadband users 'could flock to internet banking'

Wednesday, April 28th 2010
More broadband users will adopt internet banking services if banks improve their online offerings, a report suggests.
Broadband users 'could flock to internet banking'
Broadband users could increasingly opt for internet banking services instead of traditional money management methods, if a study from the US is to be believed.

Regardless of a system's benefits or even if it is endorsed by celebrities in advertising campaigns, people may adopt a herd mentality and the popularity of internet banking could spread due to peer pressure, according to Weihua Shi and Kenneth Zantow, of the College of Business at the University of Southern Mississippi, Long Beach. states that their findings, published in the International Journal of Banking, Accounting and Finance, do however acknowledge that financial institutions could encourage the spread of internet banking among broadband users by improving their services.

The trend for internet banking among broadband users would appear to tie in with separate research findings which suggest that Britons now prefer an evening in with their home entertainment products than a night on the town.

More than half of Brits (53 per cent) prefer to spend quality time with friends by inviting them over to their house, rather than meeting in bars and restaurants, according to the survey conducted by leading broadband provider T-Mobile.

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