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Online
Banking In Singapore - Findings by NetValue
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Charts
“It is important to differentiate the customer-visitor
mix to evaluate the performance of any e-banking site and
its related marketing campaigns.
Are banks attracting new prospects or prompting
higher usage levels amongst their existing customer base?
Web-traffic alone does not tell you much about how
successful is the site.
You need information about the proportion of the
visitors that engage in secured connections (i.e.,
visitors versus customers).” Said Dr. Jack Loo.
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Dbs.com remained as the most visited e-banking sites in
Singapore. Accordingly,
visitorship to dbs.com has increased by about 24% since
January 2001. “There
is a significant overlap between dbs.com’s visitors and
visitors to the other local e-banking sites in Singapore.
On the average, about 60% of the cyber-audience to
each of the other four Singapore-based online banking
sites also reportedly visited dbs.com”.
Said Dr. Jack Loo. |
Are You Banking Online? |
If you are a visitor to e-banking sites, chances are, you
would be a male (57.7%) PMEB (professional, manager,
executive and businessman – 61.1%), between the ages of
25-34 (46.3%), with a median monthly income between
S$2,001 to S$2,500. “Compared
to the beginning of the year, we see a decline in the
proportion of professionals (e.g., lawyers, architect,
engineer) visiting e-banking sites.
However, the decrease is offset by the
corresponding increase in the proportion of middle- and
upper-level executives (e.g., department head,
junior/middle manager, director, senior manager) and
students at these sites.”
Said Dr. Jack Loo. |
More
than half of the visitors to online banking sites were
early adopters, having connected to the Internet in 1997
or earlier. About
17.1% of them adopted the Internet in 2001 or later.
“Since these early adopters would have more
experience over the Internet, e-banking sites may consider
providing more complex transaction options.” Said Dr. Jack Loo. |
Rewarding E-banking Customers |
Three in four of the e-banking visitors would own a mobile
phone. M1 and
Singtel each took up about 44% of the market share, and
the rest with Starhub.
“Banks should consider partnerships with
telecommunications providers to incentivise their
customers and/or to expand their clientile base.
Rewarding e-banking customers with bonus air-time,
for example, may encourage more people to use the online
banking facilities.”
Said Dr. Jack Loo.
|
Online Banking Visitors Engage In Non-Web Protocols |
Internet
activities may be classified into web- and non- web-based
activities. Web-activities
relate primarily to web-surfing (what are the web-sites
visited) while non- web-based activities include protocol
usage like audio-video streaming, gaming, instant
messaging, chatting, news, and the execution of a number
of applications online.
NetValue’s findings indicate that visitors to
online banking sites behave differently from the average
Internet user. In particular, e-banking visitors are more likely to use
instant messaging, chat, news protocols, and to engage in
audio-video streaming.
“Web-surfing (or web-based activity) constitutes
at best half of what people do online. To fully understand the Internet behavior of your target
audience, you need to know what they are doing online and
not just where they have surfed.”
Said Dr. Jack Loo. |
“Knowing that online banking visitors are also frequent
users of the other protocols, e-banking sites may
incorporate some of these applications in their banking
site to induce traffic and repeat visits.
For example, e-banking sites may consider
integrating audio-video streaming facilities at these
sites to enhance their content.”
Said Dr. Jack Loo.
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Terms
used in this release
Displays/Unique Pages: Are total number of pages displayed by an
Internet user, whether downloaded from a site or
originating from cache memories or proxy server.
Duration per
visitor:
Is the length of time (in minutes) spent by an Internet
user on pages from a domain or property in the month.
Reach:
Represents the percentage of unique Internet users who
connected at least once during the reference period.
Unique visitors:
Represents the number of unique projected Internet users
who connected at least once during the reference period.
See
Charts |
|
Source:
NetValue
About NetValue |
NetValue,
a global Internet measurement company, provides the most
comprehensive picture of consumer behaviour online. NetValue
recruits and operates meticulously structured user panels to yield
unique and detailed Internet usage (and audience) reports. |
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