Banks and Online Banking: Just as Bad as Many Are In Their Retail Stores

Banks are doing more and more online, but unfortunately they, like so many other companies are not making the experience as easy as possible. If banks are investing millions of dollars to open retail outlets and I would assume thinking of how they can best design them for maximium customer efficiency, why not make web sites better?
Banks are bankers and know retail banking, but when it comes to online banking the best banks are going to hire the guys behind successful online retail stores –, Lands End and others.
Change Sciences came out with a report abotu online banking.
Report highlights inlclude:
The best site is more than four times easier to use and more informative overall than the worst site, and more than two and a half times better than the average.
Of those banks that offer online applications, all but four exhibit well-understood usability problems.
Of those that offer automated product suggestion tools, only three make suggestions persuasively.
Only a little over 10% of the banks reviewed provide a first impression that addresses all of the immediate questions small business prospects have.
Although most sites provide a way to compare deposit accounts, only two sites answer all the questions small business prospects have on the comparison page.
Only 70% of the banks reviewed miss opportunities to communicate about online banking, and 92% fail to communicate about online bill payóboth key small
business services.
Only 22% of the banks make it easy to learn about and provide compelling content on business services other than deposit accounts.
Only one bank makes it truly easy for the online prospect to switch to its services through the web site, a key process for those who consider switching banks to be too
time consuming.
You can buy a copy of the report here.


About Ramon Ray

Ramon Ray, Marketing & Technology Evangelist, & Infusionsoft. Full bio at . Check him out on Google Plus, Twitter or Facebook