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New Change Sciences Research Shows National Citys Online Banking Site is Easiest to Use

Wednesday 11 February 2004 18:11 CET | News

Change Sciences has released its 2004 Q1 report on the user-friendliness of ten leading online banking web sites.

While some online banking sites are on the right track, most have a long way to go when it comes to providing easy online banking. This new report looks at the ease-of-use of viewing statements, paying bills and other key day-to-day banking activities on ten leading sites. Online banking provides customers with unprecedented convenience and control. Much of what once took a visit to a branch can now be accomplished in the comfort of the customers home. Currently 28 million US households bank online, and that number is expected to grow to over 50 million by 2010. Online banking is the customers daily point of contact with the bank, and the quality of the customers experience when using online banking sets the tone for future relationships. With banks hoping to expand their relationship with the consumer beyond checking and savings account to mortgages, personal loans, and investment products, the importance of user-friendly online banking has never been more critical. Nine large banks and one virtual provider were selected for the review, and basic checking accounts were opened at each. Each site was then evaluated for ease of use in terms of logging onto the site, checking recent transactions, adding a payee, making one-time and recurring payments, checking on payment status, and logging off. National City and virtual provider E*Trade Bank led the pack according to the 2004 Q1 report using Change Sciences scenario-based Typifi(TM) customer experience benchmarking methodology. Industry heavyweights Citibank and Wachovia lagged behind, ranking ninth and tenth in a ten-site review. Awkward navigation, poor support for finding transaction details, and trouble with the add-a-payee process were just some of the pitfalls customers are likely to encounter in the online banking process. The overall site rankings are as follows: 1. National City 2. E*Trade 3. Bank of America 4. US Bank 5. Bank One 6. Wells Fargo 7. JP Morgan Chase 8. Washington Mutual 9. Citibank 10. Wachovia


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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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