The old ways are the best?

Citation

(2004), "The old ways are the best?", International Journal of Productivity and Performance Management, Vol. 53 No. 2. https://doi.org/10.1108/ijppm.2004.07953bab.001

The old ways are the best?

While the number of consumers banking on-line is continuing to grow, retail banks should keep this in perspective with their other communication channels, according to a recent report compiled by market analyst Datamonitor called eBanking Strategies in Europe.

The findings of the report show that almost 60 million European consumers banked on-line in 2003, up 37 per cent from just over 23 million in 2000. Datamonitor estimates that this figure will rise to 84 million by 2007.

Currently, the UK and Germany are Europe’s biggest markets although the Scandinavian markets have the most internet bankers per head of the population.

Datamonitor’s research indicates that whilst as a banking channel the internet has experienced strong growth in customer uptake, it remains secondary to both branches and call centres as a business generator and in terms of customer usage. Hence, over the last year, banks are in the process of repositioning the internet within their multi-channel distribution strategy.