Global Internet Banking Customer Base to Reach 657.2 Million by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Internet Banking market. The global customer base for Internet banking is projected to reach 657.2 million by the year 2015, driven primarily by the increasing adoption of Internet technology and the expanding Internet user base. Rising demand for online banking services from developing economies and the growing acceptance among younger, technologically aware individuals for daily banking needs is anticipated to boost Internet banking market.

Internet Banking: A Global Strategic Business Report

Internet banking has emerged as an efficient tool to improve transactional efficiency and communicate the bank's service offerings to the customers, who benefit from the convenience offered by the amalgamation of technology and effective service provision. In the wake of the current global economic recession, banking consumers are increasingly opting for cost-effective alternatives (namely Internet banking) to conventional banking operations. The desire to control finances is a major contributor to the high frequency of online banking visits by customers, which are primarily centered on cash flow monitoring, cost savings on stamps and cost management.

Globally, the adoption of Internet banking services consumers is influenced by factors such as quality and convenience of service, income and awareness levels of consumers, perception about benefits and risks of the service, technical capabilities of the consumer, and security and privacy of the service. Internet banking customers in the United States and the United Kingdom constitute the largest users of online banking services across the world.

The United States, Europe and Asia-Pacific dominate the global Internet banking market accounting for more than 80% of the total customer base, as stated by the new market research report on Internet banking. In Europe, the adoption of Internet services is driven by the growing desire of banks to provide an innovative and convenient mode of payment to customers, apart from lowering operational costs and enhancing profit margins. Asia-Pacific presents enormous growth opportunities for the Internet banking market, due to the rapid uptake of remote banking services in countries such as China, Australia, Korea, Hong Kong, India, Thailand, Taiwan, Singapore and Malaysia. The Internet banking customer base in India is expected to witness rapid growth to reach 31.5 million by 2012.

A major challenge for Internet banking is its growing popularity and easy accessibility, which attracts fraudsters and enhances risk of online theft. Consequently, the need for advanced and effective security measures assumes significance for smooth conduct of Internet banking operations. Despite the potential drawbacks in the form of high cost and security concerns, banks are using Internet services to benefit from the digital revolution. Key players profiled in the report include Bank of America Corporation, Citigroup Inc, Intuit Inc., Digital Insight, E*TRADE Financial Corporation, Fiserv Inc, JPMorgan Chase & Co., U.S. Bancorp, Wells Fargo & Company, and Yodlee Inc., among others.

The report titled "Internet Banking: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in terms of number of customers for regions including The United States, Japan, Europe, Asia-Pacific, Latin America and Rest of World.

For more details about this comprehensive market research report, please visit -

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
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