Online security competitive differentiator for banks

Online security competitive differentiator for banks

Banks that invest in and promote the security of their online Web sites stand to differentiate themselves from their competitors and win customers, according to a consumer attitude study from JupiterResearch.

The report, 'Online Banking: Employing Security as a Differentiator', found that, in a climate of heightened consumer awareness and concern about online security and fraud, 37% of online banking consumers believe some banks are more secure than others, while 43% place online banking security among the top-three factors in selecting where to bank.

The results present a challenge to smaller regional banks and institutions, says the analyst group, with one-in-three consumers less concerned with online security at large national banks. However, just 21% of consumers already banking online make such a distinction.

Bruce Cundiff, JupiterResearch analyst and lead author of the report, suggests that marketing online security could help national banks win customers away from regional and local competitors.

Comments: (0)