Results from the 2006 U.S. Consumer Channel Preference Survey: $6.5 Billion Reasons for "Anytime, Anywhere Banking"

This Financial Insights report summarizes key findings from our 2006 U.S. Consumer Channel Preference Survey. Financial institutions must understand how and why consumers use retail banking delivery channels in order to establish effective channel strategies and properly align IT budgets. To assist banks with this effort, Financial Insights surveyed 1,004 U.S. adults about their retail banking delivery channel usage. A similar analysis was conducted using 2001 data, allowing for a five-year trend analysis.

"As retail banking continues to evolve into a commoditized industry, institutions want to differentiate themselves while optimizing customer interactions as a means to financial success," notes Karen Massey, senior analyst for the Consumer Banking and Credit Advisory Service at Financial Insights.