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Canada Leads World in Online Banking Usage

By Andrew Redfern @ 10th July 2008 4:22 pm

ComScore have been conducting some interesting research on eBank usage. According to their study, the results of which have been released today, it’s Canadians who use online banking services most.
“Canadians are typically very savvy Internet users, a fact that is underscored by their heavy usage of online banking,” said Brent Bernie, president of comScore Media Metrix, comScore Canada. “But because the Canadian online banking sector is so developed and competition already so fierce, banks need to closely examine how they are meeting the needs of their consumers online if they are to achieve customer growth and retention through this increasingly important channel.”

Some key facts that highlight Canadians’ heavy usage of online banking:

Of the 37 global markets individually-reported by comScore, Canada ranked number one in adoption of online banking, with 67.1 of Canadian Internet users banking online in April 2008. Other English-speaking countries had significantly lower penetration, including the U.K. (49.5 percent), U.S. (44.4 percent), and Australia (41.7 percent).

Canadians also led the world in online banking frequency, with an average of 8 usage days and 10.5 online banking visits per visitor in April.

Canadians spent an average of 46 minutes on banking sites in April, viewing approximately 121 pages per visitor.

Reads the full report here at comScore’s website

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