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Online Banks, Missed Opportunities

JULY 6, 2007

FBLI
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A majority of US banks do not offer a full line of online banking services, according to an April 2007 study by Brulant.

The study found three-quarters of bank home pages did not "recognize" individual customers at each visit, and 44% did not offer account sign-in on the home page.

Just over a third offered branch or ATM locators on the home page, and about a quarter offered pre-filled applications for existing customers.

Even marketing had its shortcomings.

Over three-quarters of sites did not identify and provide targeted messages to customers upon arrival at Websites.

Nathan Carmon of Brulant said, "The online channel is where a customer goes expecting to get his or her needs met immediately. If you cannot meet a customer's most basic needs, starting at the home page, customer dissatisfaction skyrockets. Your ability to cross-sell or deepen the banking relationship with that customer is severely impacted. Also, your chances of retaining them in the long term are impaired."  

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