Commonwealth reports big surge in online customers

Commonwealth reports big surge in online customers

Commonwealth Bank Group in Australia says it has notched up one million online customers - a 330 per cent increase since January 2000.

Bernadette Fifield, general manager eComm, says: "The growth in customers since we introduced online banking in February 1997 is fantastic. It confirms our belief we are responding to the changing lifestyles and needs of customers."

The Commonwealth Bank Group now services one million customers across all of its online finance offerings, including NetBank, ComSec, HomePath, MobileBank and QuickLine. In total, more than 671,000 new customers have registered for online services since January 2000, says the bank.

Commonwealth says its three-year old Internet-based consumer transaction service, NetBank has experienced growth of more than 66 per cent during the six months from June 2000 to December 2000. Growth in customers has been matched by a leap in the total value of NetBank transactions, increasing from more than $395 million in June 2000 to over $674 million in December 2000.

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