High street banks beating Egg in online popularity and loyalty

High street banks beating Egg in online popularity and loyalty

The UK's biggest Web bank Egg is being beaten for online brand loyalty by its bricks and mortar rivals, according to data from Internet audience measurement and analysis firm Nielsen//NetRatings.

The figures show that aome 9.8 million people based in Britain now visit online banking sites.

Egg came last in a March survey measuring online brand loyalty amongst UK banks, with just a third of visitors spending more than half of their banking time on its Web site. Barclays and HSBC came out as the clear winners, with around 70% of visitors spending the majority of their banking time on the banks' sites.

According to the data, Egg was also beaten in the popularity stakes, with Lloyds TSB's Web site having the most unique visitors in March, followed by Halifax and Barclays. Egg's site came in a poor fourth.

Commenting on the results, Gabrielle Prior, European data analyst, says: "The UK's leading retail banks are increasingly encouraging their customers to use the Internet for everyday banking activities, as well as when applying for mortgages and credit cards."

Separately, the latest research from TowerGroup indicates that 42.5 million US households (37%) will be registered for online banking by 2007. This equates to a compound annual growth rate of nearly nine per cent.

Currently more than 80% of American households use more than one banking channel, including branch, telephone, online and ATM.

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