19 October 2017
visit www.avoka.com

Egg on the boil as online banking index hits new high

11 March 2002  |  3692 views  |  0 Egg Call Centre

The number of consumers banking online continues to rise as Britons increasingly adopt interactive technologies such as Internet, digital TV and WAP mobile phones, according to the latest Mori report on behalf of Internet bank Egg.

Results of the latest Egg/Mori "Embracing Technology" report show approximately 6.6 million Britons now bank online, an increase of 1.1 million since the last index in October 2001.

These figures correlate strongly with the rate of adoption by British adults of interactive technologies, such as Internet, digital TV and WAP mobile phones. Between October 2001 and February 2002, the Egg Index recorded an increase of around two million UK consumers using these technologies for personal use, up to 27 million in total.

Internet usage alone now stands at 45% amongst British adults or around 20 million, up from 42% in October. A further one in ten envisage accessing it within the next two years. Currently, half of Internet users say they have arranged or serviced a financial product over the Web.

A third of all adults say they would be interested in making payments to individuals or pay bills to businesses using email, as a faster and more efficient alternative to posting cheques. The figure grows to half among email users.

Similarly, over a third of all adults (37%) say they would be interested in using account aggregation services in the next two years - where they could view and access all financial products using a single Internet site and one log-in. This figure rises to 75% amongst those who currently use online banking services.

Egg is currrently hatching plans to offer a person-to-person payment service to the UK's Hotmail users. The direct bank has also said it will offer account aggregation to customers "in the very near future".

Patrick Muir, marketing director, Egg UK comments: “We have announced our intention to offer additional digital payments and account aggregation solutions because we know our customers want the control of being able to manage their money whenever they want”.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Royal Bank of Scotland doubles online banking registrations

Royal Bank of Scotland doubles online banking registrations

08 March 2002  |  4951 views  |  0 comments
UK banks go back to the future for CRM investment

UK banks go back to the future for CRM investment

06 March 2002  |  4280 views  |  0 comments
Consumers addicted to online finance - Nielsen

Consumers addicted to online finance - Nielsen

27 February 2002  |  3487 views  |  0 comments
Lloyds TSB shelves plans for online sharedealing

Lloyds TSB shelves plans for online sharedealing

26 February 2002  |  3668 views  |  0 comments
Lloyds TSB speeds ahead of online competition

Lloyds TSB speeds ahead of online competition

26 February 2002  |  4360 views  |  0 comments
Egg to offer digital payments to Hotmail users

Egg to offer digital payments to Hotmail users

25 February 2002  |  5666 views  |  0 comments
Smile tops online banking league table

Smile tops online banking league table

15 February 2002  |  3851 views  |  0 comments
Visa reports surge in European online spending

Visa reports surge in European online spending

15 February 2002  |  3349 views  |  0 comments
Britannia offers online mortgage quotes

Britannia offers online mortgage quotes

14 February 2002  |  3514 views  |  0 comments
UK consumers unfazed by PINs for card security, says Visa

UK consumers unfazed by PINs for card security, says Visa

12 February 2002  |  3484 views  |  0 comments
Taxpayers take to online billing says Girobank

Taxpayers take to online billing says Girobank

11 February 2002  |  2753 views  |  0 comments
Lloyds TSB arranges online overdrafts

Lloyds TSB arranges online overdrafts

07 February 2002  |  3628 views  |  0 comments
Women and children first for online banking

Women and children first for online banking

06 February 2002  |  3443 views  |  0 comments
Online banking plateaus despite Internet enthusiasm

Online banking plateaus despite Internet enthusiasm

29 January 2002  |  3351 views  |  0 comments
Zurich and Bank of Scotland launch UK Internet bank

Zurich and Bank of Scotland launch UK Internet bank

17 January 2002  |  3750 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comRegister now

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15825 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8958 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8056 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7149 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6292 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job