3 out of 4 Pinoys now into online banking

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Seventy-five percent of those polled said they now do almost all their banking from their computer, tablet, or mobile phone. Only 1-in-4 continue to visit the branch, and mostly for face-to-face meetings with the bank managers or account officers. In fact, the uptake of online banking is so prevalent, only 9 percent said they have yet to try it. According to the survey, popular transactions online include account inquiries, bills payment and funds transfers between accounts. This trend can be attributed to new technologies that offer customers user-friendly solutions at the same time enhancing security. ?We are seeing a marked shift to online and mobile banking, and in Asia, we already see 98 percent of all transactions taking place outside a branch,? said Consumer Business Manager for Citi Philippines Bea Tan. The Citi Fin-Q Survey also showed that Filipinos are showing an interest in using online banking beyond the usual transactions. In fact, 92 percent would like to ?take their banking with them? and be able to access all of their finances while traveling, and 78 percent expressed interest in global investment opportunities. This also explains why more than half of the respondents showed a preference for a global bank. The survey covered 3,500 online respondents across seven countries including the Philippines. Five hundred interviews were held in each of the participating countries that include Australia, India, Indonesia, Korea, Singapore and Taiwan. ]]>

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