In this US study from the American Bankers Association generational differences start to display clues about the future. Online banking is the clear winner, and this flies in the face of the current push to build branches. When consumers were asked what banking method they use most often, branches topped the poll with 32% of the vote, followed by online and ATM channels, each with 26%, and telephone and postal methods bringing up the rear at five per cent apiece. However, generational differences had a strong influence on how respondents answered. For example, banking at a local branch was the … Continue reading Finextra: Generation gap widens in banking channel mix

 I find this report interesting, even though a bit dated, from Nov 2005.  The trend will only have increased since then, so its relevant. This means that the use of search engines is edging up on email as a primary Internet activity on any given day. The Pew Internet Project data show that on a typical day, email use is still the top Internet activity. On any given day, about 52% of American Internet users are sending and receiving email, up from 45% in June of 2004. Source: Pew Internet: Search engine use Thinking about the next generation of banking … Continue reading Pew Internet: Search engine use up significantly

 Speculation mounts on what Bank of America might do next. “You could probably go pick two dozen large international banking operations that they could go after, and the list may be too long to note. They could also be “transformational” in other domestic financial operations outside of banking, but the street is into more of a de-conglomerization attitude these days so that may not be in the works. They have just recently integrated the large acquisition of MBNA for credit cards, so we’ll have to see what are the next obvious candidates. Bank of America has gotten more into mortgage … Continue reading "24/7 Wall St.: Weekend Edition: Who Will Bank of America Acquire Next? And Where?"