Almost one-third of online banking users would consider switching their banks if they experienced performance problems when transacting on the Web.
At the same time, the more consumers use the Internet to handle their banking tasks, the more satisfied they are with their bank, according to a new research study of US attitudes to online banking released by Gomez.
"Online bankers who perform the majority of their banking tasks via the Internet are realising the time-savings and at-your-service availability of information that the Internet delivers," believes Moriah Campbell-Holt, lead research analyst who co-authored the study.
Consumers who stop using online banking cite lack of benefit, convenience or interest; concern about Internet security; and unreliable site performance as top reasons why they stopped accessing their accounts online.
"Given the high level of concern with Internet security, banks need to emphasise the measures they have taken to protect their customer's online experience and reinforce these messages in a clear and consistent language," saysCampbell-Holt.