Brits Believe Online Banking Makes Them More Financially Savvy
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwire) -- 10/25/11 -- Nationwide Building Society has today unveiled research(i) showing that nearly six out of ten people (58%) are more aware of their personal finances as a result of and a third (33%) are more aware of their household's financial situation because they do their banking online.
In fact, online banking is not only boosting the nation's awareness of its own finances, nearly a quarter (23%) of people said they were more aware of different financial products such as , and as a direct result of online banking.
So, why are we going online?
The convenience factor
The vast majority of people (82%) choose to bank online for the convenience, and eight out of ten (80%) prefer the flexibility of being able to bank when they want to. And, despite being a nation famed for its love of queuing, the research has shown that 46% of Brits are going online to get away from queues.
Whilst ease and flexibility are clear reasons people are banking online, the ability to discreetly access their finances is also important with over two fifths (41%) of consumers admitting they bank online for this reason.
The evening proves to be the most popular time for people to log on to their internet bank, with nearly a third (30%) of people admitting they most commonly bank online at home during the early/mid evening, while 26% do so in the late evening. By comparison, 29% of people choose to log on during the mid morning, and just over one in ten people (13%) use their lunchtime to manage their finances online.
It's more than just a short-term trend
When asked, almost half (48%) of respondents said they have been banking online for between three and six years, 12% for seven to eight years, 12% between nine and ten years, and 6% around 13 to14 years - i.e. since 1997 when launched the UK's first internet bank.
"The research has really highlighted just how important online banking is to helping people keep track of their money. Our refreshed and user friendly online bank is incredibly intuitive which should help to encourage more people to give online banking a go. And, with household purse strings tightening, our new graphs which show people what they are spending their money on will no doubt be a useful tool," said Nationwide's head of channel integration, Richard Searle, who has headed up the re-launch of the new internet bank at the Society.
Nationwide's new - launched earlier this month - has already been made available to over a quarter of a million customers, with more to be automatically transferred in a phased programme by the end of the year. Members and customers who bank online with the Society will benefit from a number of features, including:
The online bank will be available via
Notes to editors:
(i) Online research based on a sample of a minimum of 1,500 UK respondents, conducted by Opinion Matters for Nationwide Building Society between 31 August 2011 and 14 September 2011.
Demonstrations of Nationwide's new Internet Bank can be viewed at:
The new Internet Bank, which has been designed with the help of Nationwide customers, and in association with IBM, forms part of the Society's transformation programme. IBM Global Business Services has worked with Nationwide from the outset of this programme from helping to develop the strategy through to supporting the rollout to customers. IBM has provided business and technical analysis and design, development and testing services and support for business process change and training strategy.
About Nationwide
Nationwide Building Society is the world's largest building society and a top-three provider of and in the UK. It is also a major provider of current accounts, and . With around 16 million members, Nationwide has a relationship with around a quarter of the UK population. Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the year 2010/11, Nationwide made a strong underlying profit of GBP 276 million - up 30% from the previous year. Its strong financial performances and prudent business model means that Nationwide is included in Global Finance magazine's Top 50 Safest Banks in the World.
Contacts:
Media information:
Nationwide
Roy Beale
01793 655689
Nationwide
Lindsay McAloon
01793 655195
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Datum: 25.10.2011 - 10:05 Uhr
Sprache: Deutsch
News-ID 79658
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LONDON, UNITED KINGDOM
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Retail Banking
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