No one knows what the future holds for banking. Predictions are plentiful and arbitrary at best. However, few dispute that the popularity of Internet banking will rise. Faster connections, cables lines that leave computers continually online, and growing Internet access will expand the popularity of Internet banking. Web TV and new wireless devices mean consumers don t even need a computer to bank online.
Some people fearlessly transact business via the Internet, and others are more hesitant.
But, ask retail customers who balance their statements online or use online bill payment, and you probably won t find many who want to revert to the paper and postage system. The convenience to the customer is unparalleled. And, those customers likely to use online services tend to use more banking services and be wealthier than average. They are likely to fall into the small percentage of customers who make up much of a bank s profits. The resulting paperwork reduction will benefit both customer and bank alike.