Mr And Mrs Smith Go Online, As Internet
Technology Moves From Fantasy To Normality
Rachel Lane
Whilst not all Smiths lead the glamorous, technological
lifestyles of Brad Pitt and Angelina Jolie, the number of
British consumers using online financial services continues to
grow rapidly.
According to NOP World, 48% of all Internet users researched or
purchased financial products such as insurance and loans, or
used online banking facilities. In April, NOP World had
already recorded estimates of 28 million people online in Great
Britain, with 13.5 million exploiting the Web for their
financial requirements.
NOP World’s report showed that of the financial activity, most
was research related; as 84% of Internet users seeking
financial services used the Internet to gather information,
utilising sites such moneynet.co.uk and moneysavingexpert.com.
Over half of the users surfing the Web for financial information
were happy to contact suppliers via their websites and e-mail.
Although only 3.3 million consumers bought loans and insurance
online last year, NOP state that confidence in buying such
products over the internet is growing, with recent figures
showing an increase of 43% in people researching, then
purchasing online.
Internet banking is also increasing in significance. There are
now over 10.3 million consumers managing their bank accounts
online, a result of increased confidence for the consumer and
simplification of front-end technology by financial
organisations and providers.
Despite the positive news, finance companies could go further
in encouraging consumers to take up the internet as a tool to
manage their finances. NOP World has additionally reported
that many online accounts remain dormant stating that the
problem affects all banks “even specialist online providers,
with dormancy rates ranging from as low at 10% to as high as
80%”. Moneynet.co.uk, Moneyextra and Moneyfacts.co.uk, online
comparison and information websites, specialising in personal
finance, have already tried to resolve the issue of consumer
apathy and financial lethargy by introducing product guides to
explain complex terminology.
For further information:
http://www.nopworld.com/
http://www.moneynet.co.uk/
Rachel writes for the personal finance blog
Cashzilla: http://www.cashzilla.co.uk/
Rachel has all her own
teeth. Cashzilla, the world’s only personalfinanosarus, has a
tongue that can heat up the coolest of conversations. He
enjoys lacrosse and episodes of Scrubs. Cashzilla is currently
dating Nessie, the Loch Ness Monster, it’s early days, but both
creatures report “they’re very happy”.
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