Leading Providers in Internet Home Banking Continue to Hold their Ground

The number of credit unions offering internet home banking services has more than doubled from three years ago to 2,320. The rapid adoption of this technology is an indication of the importance of providing a member-directed, full-service channel in an increasingly competitive financial services market. Find out who are the leading vendors for this important service!

 
 

More credit unions are integrating the Internet into their member service network, as the number of credit unions offering home banking services has more than doubled from three years ago to 2,320. The trend is reflected in the credit unions over $25 million in assets, as 1,833, or 64 percent, of these credit unions now provide this service, up from 1,557 last year. The rapid adoption of this technology is an indication of the importance of providing a member-directed, full-service channel in an increasingly competitive financial services market.

Although data processors that have developed Internet banking offerings as components to their core services are well represented, Digital Insight continues to maintain the largest share, 19.4 percent, of credit unions over $25 million in assets with Internet home banking solutions. Their share grew three percentage points versus last year primarily due to the acquisition of VIFI. Data processors Symitar (9.9 percent), CUSA Technologies (6.6 percent) and Users (8 percent) follow. CUSA Technologies and Users are both Fiserv companies. Almost one third of the market is held by a number of smaller providers.

 

 

 

July 22, 2002


Comments

 
 
 
  • Would like a little more depth on this subject.
    Anonymous