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Posted by Daniel Workman Jul 12, 2008 |
Worldwide Internet information consultant Comscore Media Metrix revealed that 67.1% of Canadians did their banking online in April 2008, far ahead of the United Kingdom (49.5%) and the United States (44.4%).
Comscore president Brent Bernie notes that the world-class Canadian banking system is so developed and competition is so fierce that Canadian banks must meet the needs of consumers online to grow their banking business.
In fact, online banking in Canada is a must for even the largest bank's survival over the longer term.
Royal Bank Financial's website had 4.6 million visitors in April 2008 (down 2% from April 2007), the most of any Canadian bank. A close second, TD Canada Trust had 4.5 million online customers (up 2%).
The study shows an ongoing re-engineering of how Canadians do business. While bricks-and-mortar banking services are still important, the future of Canadian marketing and business transactions clearly lies on the Web.
This is even more true of international trade. A click of a mouse button will soon become the most common method to source products and sell merchandise from around the world.