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Are Online Banking Sites Secure Enough?
Chris Crum
Staff Writer
2006-05-12
 Insider Reports RSS Feed
According to a new report from eMarketer entitled "Online Banking: Remote Channels, Remote Relationships?" consumers in the U.S. are losing their trusting banking online.
Consumers are nervous about how secure their online banking is, and why should they be with constant reports of identity theft and fraud? According to eMarketer,The result is a slowing rate of adoption, with online banking households increasing by only 3.1% in the last quarter of 2005 -- the lowest increase in three years. The number of online banking households as a percentage of total online households is pretty stagnant, too. It is expected to grow by just 4 percentage points between 2006 and 2010.
The key factor in customer attitudes is the perception of Web site security. Being able to trust a banking site is extremely important to customers, with more than 87% saying in an Ipsos Insight survey that they wanted assurance that the bank would not sell their personal information and 83% wanted assurance that such data was protected from hackers. Check out eMarketer.com for more on the report, which discusses demographics, reasons consumers switch to online banking, and things considered to be the most important issues with banking sites.
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About the Author:
Chris Crum is a staff writer for SecurityProNews and WebProNews.
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