Industry News

More consumers log onto bank sites

Online bill pay grows in popularity

ComScore Networks, which measures and analyzes consumer behavior and attitudes, has found that more than 22 million users logged into online accounts with the nation's top 10 banks during the first quarter of 2004. That's a 29 percent increase over the first quarter of 2003.   During that same period, use of online bank bill payment services grew by 37 percent.   "Online banking and bill payment continue to be among the fastest growing applications on the Internet," said Jim Larrison, VP of comScore Financial Services Solutions. "The continued proliferation of broadband access, coupled with heavy online and offline promotion, have helped the nation's largest banks bring more than five million customers online in the past year."   More than 4.6 million consumers, or about 20 percent of the online banking population, actively used online bill payment services offered by the top 10 banks. These consumers paid an average of 14 bills online during the quarter, ...