E-banking traffic this year up 11% over 2009, study shows

- Tuesday, December 13, 2011

E-banking traffic this year up 11% over 2009, study shows

Internet traffic on Mexican banking portals has increased 11% in 2011 compared to 2009, with 70% of internet users visiting one or more financial services portals, according to a study by local ICT organization Amipci.

The study, developed jointly with Mexican financial group BBVA Bancomer and local bank Banco Azteca, found that among the 30% of internet users who do not bank online, 47% say it is due to security concerns.

Amipci estimates that 4.4mn customers have access to e-banking services in Mexico, but the true number of users is probably lower since every banking client is believed to have an average of 2.3 active accounts.

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According to the study, 73% of respondents use online financial services once or more than once a week, while 78% would recommend it to friends and colleagues.

"Internet users access online [financial] services frequently and say they would recommend them, which means it's likely that we'll see a growth trend for the coming years," Amipci president Mauricio Braverman said.

If 21.5mn internet users have banking accounts, only 4.4mn customers' accessing electronic banking is still a small proportion.

"E-banking means a win-win relationship for all. The user performs operations with greater flexibility and convenience, and for the bank it implies greater cost efficiency and especially the ability to offer greater diversity of options to its clients through a single channel," Braverman added.

According to the study, 95% of respondents use electronic banking to check their balance, 57% to make electronic payments and 54% to make transfers between their own accounts.

"The provision of online banking services is very complete, and we find that it is being partially exploited by users," said Amipci's VP of financial services, Alfredo Reyes Krafft.

The study also shows that 53% of online banking users are residential, while 5% are corporate. Nearly 56% access banking sites from home, while 40% access from their workplace.

Regarding security, 64% of respondents said both the user and the bank are equally responsible for the security of online transactions.