Online-banking consumers can do well by doing good, improving financial control while eliminating the paper bills, statements and checks that harm the environment - saving 17 million trees and avoiding 4 billion tons of greenhouse gases a year - Marketing Charts reports.
According to a recent report from Javelin Strategy & Research, “2007 Online Banking and Bill Payment: Trends, Forecasts, and Strategies for Reinvigorating Growth and Adoption,” finds that those who have yet to use online banking have become more entrenched in their objections over time, saying they ”prefer to deal with people” or because of fears of fraud.
As a result, adoption of online banking has begun to slow, according to the report; but by underscoring the environmental benefits of paperless banking, financial institutions can continue to gain online customers, the report suggests.
Some key findings of the Javelin Strategy & Research report:
In assessing other trends illustrated by the report, author Mary Monahan said, “People manage their assets and bills online to gain control of time, finances and safety. Bankers can meet consumer needs while providing vital environmental benefits.”
“In addition, emerging features such as two-way mobile or email alerts and preset user-defined limits and prohibitions (UDLAPs) can transform today’s overwhelming flood of online information into an experience that is green, safe and practical for everyone.”
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