Category: Canada

Canada, Middle East, Payments, US

Global electronic payment volumes to double by 2010

Colin Henderson

In a study, designed to provide banks, payment processors and retailers with a road map for the next decade to help plan their payments business strategies, its indicated payments will double worldwide by 2010, but the details are more interesting. Finextra: Global electronic payment volumes to double by 2010 The annual number of electronic payment transactions, currently at approximately 210 billion worldwide, are expected to double by the end of the decade, according to research released by ACI Worldwide. The individual markets of different growth profiles: The Eastern Europe and Asia/Pacific regions are forecast to lead the world in electronic … Continue reading Global electronic payment volumes to double by 2010

Canada

Three out of Five Internet Users Take Advantage of Online Financial Services (Canada)

Colin Henderson

AC Neilson survey nicely summarises the trends for financial services usage in Canada.  Neilson are never clear if its online banking only or includes "I looked at a Financial services site"

Use Of Online Financial Services By Internet Users

Total

Female

Male
2002

50%

45%

56%
2003

54%

52%

57%
2004

57%

55%

60%
2005

59%

57%

61%
Point change since 2002

+9

+12

+5

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Canada, Telephone Banking

Bank branches take a back seat to Net, drive-through

Colin Henderson

In Canada, bank customers have shifted away from the branch. 46% never visited a branch last Fall.

London Free Press – Business – Bank branches take a back seat to Net, drive-through

An annual research study released recently by research organization TNS Canadian Facts shows just more half of Canadians (54 per cent) visited a bank branch last fall, the lowest level of branch banking since the tracking study began in 1994.

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Canada, Payments, US

Obopay P2P payments, and purchases

Colin Henderson

The third party payments space is heating up, with competition even amongst the newcomers.  This one is in direct competition with Paypal mobile, as well as competing with the US Nacha credit push initiative, and the Canadian Certapay Interac Debit. Relevance to Bankwatch:  Another example of third party disintermediation of money movement.  In plain english we (Banks) are losing control of how customers move their money, and we will eventually lose control of their balances as a result.  Finextra California-based start-up Obopay has launched a mobile payments service that allows customers to make person-to-person fund transfers and using their hand … Continue reading Obopay P2P payments, and purchases

Canada

Forrester Research release online banking ranking – Canada

Colin Henderson

Carrick of the Globe and Mail reviews the Forrester report. Its not entirely clear to me how he got to "unimpressive", however there is no doubt that Banks' still have room to do more with online banking to meet the potential of the channel. Of course, they have been balancing other priorities as they build out this new channel, however this report looks only at this channel.

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Canada, US

World internet usage – North America flat but shifting to wireless

Colin Henderson

No big surprises in following piece from Cnet  … North America doesn't have much more room to get more online statistically, so how North Americans access is evolving towards wireless.

Relevance to Bankwatch:
Online tenure is a key determinant to online banking confidence and usage, so expect another spike in North American online banking usage in 2 years (2008).

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Canada

Ranking Canadian Banks’ Cross-Sell Potential – Forrester May 2005

Colin Henderson

Many Canadians will consider their bank for additional deposit, credit, and investment products, but not all banks’ cross-sell opportunities are created equal. Scotiabank leads the large Canadian banks in cross-sell potential. Higher customer advocacy scores from their customers help distinguish the leaders. To improve advocacy ratings and their cross-sell success, Canadian banks should make operational improvements (especially with cross-channel interactions) and revamp their sales approaches.

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Canada

Canadian Bank Public Web Site Rankings – Forrester – Jan 2006

Colin Henderson

Forrester evaluated the seven largest Canadian banks (Bank of Montreal, CIBC, Desjardins, National Bank of Canada, RBC Royal Bank, Scotiabank, and TD Canada Trust) using its Competitive Site Assessment (CSA) methodology. The analysis, which focused on the public section of the Web sites, covers 21 criteria across five categories: Web site navigation, Web site presentation, contact methods, research functionality and content, and application functionality and content. The highest ranking bank Site, TD Canada Trust, scored 74 out of a possible 100 on the assessment. While the analysis uncovered many best practices, the bank sites ran into the most problems meeting the requirements for good application functionality and content.

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Canada1 Comment

Phase 5 Releases Competitive Online Banking Report – August 2005

Colin Henderson

August 15, 2005 – A new survey of Canadian consumers who bank on the Internet shows that TD Canada Trust and Scotia Bank lead competitors in terms of online banking customer satisfaction.

The survey of 2,019 Canadians by Phase 5 Research showed that customers of TD Canada Trust and Scotiabank were more likely than any of the other “Big 5” Banks’ to be very satisfied with their online banking service. TD Canada Trust’s EasyWeb and Scotiabank’s ScotiaOnline customers were also more likely to feel that their online banking service provides excellent value.

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