Royal Bank of Scotland doubles online banking registrations

Royal Bank of Scotland doubles online banking registrations

Royal Bank of Scotland is reporting a 50 per cent growth in customer registrations for its Internet banking service, Digital Banking, over the past twelve months.

Figures show one in five of the bank's personal customers have now signed up to Digital Banking - over 500,000 users - conducting £3.6 million worth of payment transactions online per day.

During the past twelve months, says the bank, the number of people regularly using the service increased by 88 per cent, while the number of online transactions conducted per customer rose by 11 per cent.

As well as the growing trend in Internet banking, the purchase of financial products online is also on an upward curve. The volume of savings accounts applied for online increased by 114 per cent during 2001, reports the bank, and the volume of personal loans online also increased by 63 per cent.

Brigid Whoriskey, head of Digital Banking, comments: "We believe in using the Internet to enhance our customers’ relationship with the bank by providing a financial experience that meets their needs on a cost, choice and convenience level. We think that the huge increase in both the number of customers and the use they make of our online services justifies that approach.”

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