22M used online banking in … – Jun. 20, 2004

Posted:10:48 PM (Manila Time) | Jun. 19, 2004
Agence France-Presse

WASHINGTON — Some 22 million people use online banking at the top 10 US financial institutions, up 29 percent from a year ago, a recent survey showed.

The survey by market research firm comScore Networks, measuring the first quarter of 2004 compared with the same period of 2003, said usage of online bank bill payment services grew by 37 percent.

“Online banking and bill payment continue to be among the fastest growing applications on the Internet,” said Jim Larrison at comScore.

“The continued proliferation of broadband access, coupled with heavy online and offline promotion, have helped the nation’s largest banks bring more than five million customers online in the past year.”

The survey found some 4.6 million consumers, or about 20 percent of the online banking population, actively used online bill payment services offered by the top 10 banks. They paid an average of 14 bills online during the quarter, with an average value of about 250 dollars.
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