Make the most out of each visit.
Over the past ten years, online banking has increasingly become part of everyday life and is now used by more than 80% of internet using adults. Online banking has opened up major new opportunities to financial institutions to enter new markets. Various studies and industry experience have shown that online banking customers are more profitable than offline customers, they make fewer customer service calls, and are less likely to switch banks. Improving online services is an essential part to any financial institution's profitability.
This rise in online banking usage likely flows from two major trends:
- The first is that as internet users gain more experience online, they are more likely to perform activities that involve money, such as making online purchases and travel reservations, and participating in online auctions.
- The second is that the services accessed via online banking have extended beyond even those services offered in individual branches making a rich online banking platform not only a competitive requirement, but a major deciding factor in a user determining a primary financial institution (PFI).
A company's primary responsibility is to serve its customers. Profit is not the primary goal, but rather an essential condition for the company's continued existence.
Peter Ducker, Writer - Professor - Consultant
Raising the Bar
MoneyDesktop products are designed to augment online banking platforms with rich functionality that complements traditional and emerging financial institution goals:
- Improve customer retention/satisfaction
- Increase new product sales
- Up-sell existing products
- Increase brand awareness online
- Improve general institution financial performance
