IDC Poll: Financial Services Biggest Technology Breakthrough

IDC analyst Marc DeCastro recently asked readers, “Historically, what technological advancement in financial services do you feel is the industry’s biggest breakthrough?” The result: online banking and bill payment.
Here is the survey breakdown:
• 32 percent, Online Banking and Bill Payment
• 20 percent, ATM
• 20 percent, Debit Card
• 16 percent, Credit Card
• 10 percent, Mobile Banking

DeCastro’s poll also found that the older demographic was, the more they felt ATM’s were the biggest breakthrough, but the 25 – 34 age bracket chose mobile banking. This demographic breakdown demonstrates the ever-increasing challenge that financial institutions face to reach a broad range of customer preferences. Catering to customers’ needs is crucial during this era of rapidly-changing technology. To view the full survey results visit IDC.
What is your institution doing to reach different customer demographics? Leave us a comment below.

Comments

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  4. Matt says:

    Great information! Breaking the data down by demographic/age group is definately helpful. It will be interesting to see if “mobile banking” (currently only at 10%) will grow over the next decade, and if it will give “online banking” a run for its money. Currently, mobile banking is gaining steam but has not saturated the marketplace like the other inputs in this survey.

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