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Products & Services Business Operations Financial Management

Accelerating Online Adoption Rates Through Improved Internet Financial Services

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ID: 4985


Features:

Metrics, Graphics


Pages/Slides: 31


Published: Pre-2014


Delivery Format: Online PDF Document


 

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"Accelerating Online Adoption Rates Through Improved Internet Financial Services"


STUDY OVERVIEW
Online Services and E-Commerce have become an integral part of organizations today, especially for the Financial Services industry. Companies embrace it as an effective and necessary channel to increase productivity and sales, and simply stay competitive in a digital world.
This benchmarking study informs about the organizational structures, processes, and measures in place to increase online service adoption to grow the online channel. It also presents information about the operations necessary to manage projects or programs, development activities, or initiatives associated with the online service process. Leaders in the financial services sector can use this study to evaluate their online operations and learn strategies for boosting adoption rates.


KEY TOPICS

  • Staffing & Budget Allocations of the Online Secured Services Function
  • Strategies for Increasing Adoption Rates
  • Products and Services Offered and Cross-Sold Through the Online Channel
  • Training and Incentives for Call Center Representatives Managing Online Secured Services
  • Effectiveness Measures for the Online Secured Services Function
  • Vendor Utilization/Outsourcing


KEY METRICS
The analysis shows responses for the benchmark class (in percentages or averages) for the following metrics:
  • Online Registrations per Month
  • Online Registrations as a Percent of Active Accounts
  • E-Services Staffing Numbers
  • Number of Inquiries by Channel
  • Vendor Utilization Metrics
  • Training Frequency & Tools
  • Types of External Marketing & Internal Promotions/Competitions
  • Types of Online Services – View Only, Action Required
  • Online Alerts & Mobile Banking Usage
  • Types of Products Cross-sold Online
  • SLAs for the Online Channel
  • E-Services Effectiveness Metrics
  • Reasons for Registration Failures
  • Types of Online Reporting Capabilities


SAMPLE KEY FINDINGS
  • Online registration is about 50 percent of active accounts for most companies.
  • None of the surveyed companies fully outsource their e-services function. Half of the companies outsource certain activities.
  • None of the surveyed companies currently offers mobile banking, but many plan to do so within the next three years. Some are already offering mobile alerts and account updates.


METHODOLOGY
This research was conducted by Best Practices, LLC through an Internet Benchmarking Exchange project based on a survey with eight Financial Services organizations with major operations in the U.S.

Industries Profiled:
Financial Services; Banking


Companies Profiled:
GE Money; Wells Fargo; KeyBank; National City; Bank of America; BB&T; Jax Federal Credit Union; Discover

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