Internet account openings soar at Nationwide

Internet account openings soar at Nationwide

UK building society Nationwide is reporting that the Internet channel was used to open 30 per cent of all savings accounts and 40 per cent of all current accounts in the year to April 2001.

This financial year Nationwide says it attracted over 8.2 million visits to its Web site and converted over 10% of visits into sales and online banking registrations. The Society says it has received 670,000 registrations for its online banking service.

Nationwide claims great success for its Web-only e-savings account which was first promoted in June last year. In its preliminary results statement to April 2001, the society says it has so far opened 250,000 e-savings accounts.

Operating a multi-channel distribution strategy, Nationwide says it will extend access to new e-commerce channels over the coming year, including Internet TV and via WAP phones.

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