Leading Lenders' Home Equity Web Sites Are Getting Easier to Use, More Informative and More Persuasive
New Research Looks at How People Shopping for Home Equity Loans Experience Lender Sites
New York, NY (PRWEB) September 6, 2006 -- Change Sciences Group released a new report showing that lenders' home equity web sites are easier to use than they were six months ago. In addition, sites are working harder to present information about lending products that is useful to consumers trying to learn about them, ultimately with the goal of winning new business from an increasingly rate-conscious online shopper.
To jump to a detailed report overview visit:
http://www.changesciences.com/cgi-bin/reports.html
"Home equity loans are complex financial products. Creating an online experience that works for the consumer is a huge challenge even for the most sophisticated players. The general improvement across the board shows that lenders are starting to get it," said Steve Ellis, a Change Sciences partner.
The rare of change
--More than 65% of sites had partial but significant changes.
--23% of sites were completely overhauled.
--Only two sites had no change at all.
Improvement trends
--80% of sites got better.
--Only 24% of sites got worse.
--The average site improved by nearly 22%.
--Sites that were completely overhauled improved by an average of almost 30%.
--Sites that were changed at least partially improved by more than 19%.
--The best improvement for a site that changed completely was 41%.
--Two sites got worse by as much as 80%.
Room to improve
Despite these trends, most sites still have significant room to improve when compared to the best sites. Being a top performer remains a moving target. The best performer, Capital One, got better by more than 21%. Capital One is more than three times better than the average, and more than six times better than the worst.
The three best sites overall are:
1. Capital One
2. Citizens Bank
3. Wells Fargo
The complete list of sites covered in the report includes: Bank of America, BB&T, Capital One, Chase, Citibank, CitiFinancial, Citizens Bank, Comerica, Commerce Bank, Compass Bank, Countrywide, E*Trade, E-Loan, Fifth Third Bank, First Citizens, First Horizon, HSBC, Key Bank, M&T Bank, Marshall & Ilsley, Merrill Lynch, myhomeequity.com, National City, PNC, Regions, Sovereign Bank, SunTrust, TD Banknorth, US Bank, Wachovia, Washington Mutual, and Wells Fargo.
For a detailed report overview and the complete ranking of all 32 sites visit:
http://www.changesciences.com/cgi-bin/reports.html
Change Sciences was founded in January 2000 to help companies optimize online business by basing decisions on how people use technology while they live, work, and play.
If you would like more information about this topic or would like to talk with Steve Ellis, please call Kathy Berona at 888-864-1160.
Contact:
Kathy Berona
Change Sciences Group, Inc.
888-864-1160
www.changesciences.com
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