In a discussion about technological innovations in banking, online banking has to be part of the conversation.
For the third year in a row, more bank customers – 62%, as a matter of fact – prefer to do their banking online compared to any other method. This is according to a 2011 survey of more than 2,000 consumers conducted for the American Bankers Association (ABA) by Ipsos Public Affairs, an independent market research firm. It’s the first time since the ABA started conducting the annual survey in 1998 that online banking is the preferred method for all bank customers. Of those surveyed who were 55 years of age and older, 58% preferred online banking, followed by 24% who preferred visiting their local bank branch.