The Trend Toward Online Banking Services by Brick-and-Mortar Institutions: The Last Five Years

Abstract

Five hundred financial institutions in the United States were randomly sampled each year for five consecutive years in order to examine Internet participation, both evident at the time of the survey and planned by the selected financial institutions. Each year the selected institutions were surveyed regarding the existing involvement of their institution with online banking and that institution’s Internet plans for the following two-year period. This study examines changes over time in the responses of the surveyed institutions. The results show that, over the study period, the percent of respondents that had or planned an Internet present within two years of the survey increased from 52% in 1996 to over 90% in 2000, and that the number of online services offered to customers is increasing.