Executive Summary: U.S. Online Retail Banking Market

Containing a snapshot of the overall market analysis, each Executive Summary provides a description of the scope and methodology used in the report; chapter overviews complete with statistical data; a sampling of charts and graphs when applicable; a brief look at the trends shaping the market; and projected future growth or demise of each market sector with relevant sales figures.

The report from which this Executive Summary is compiled is U.S. Online Retail Banking Market, and the full study abstract is as follows:

The U.S. Online Banking Market provides a detailed analysis of online banking, covering a broad range of market and product trends, market drivers, current banking offerings, consumer demographics, and legal and regulatory issues pertinent to the online banking industry.

In this chapter, What Is Online Banking - An Overview, we present a framework for understanding the context and purposes of the online banking market. To begin, we provide an overview of electronic payments systems, to show how Internet banking fits into the larger electronic picture. We then use statistics to show how online banking moved into entered the mainstream in just ten short years as a product with integrated features.

Our overview then summarizes electronic bill payment and presentation, the biggest trend in online banking, and shows how it fits into the bigger online banking picture. We provide a synopsis of online banking advantages and disadvantages, from both the consumer and banking side of the equation. Finally, we discuss online banking services services in terms of outsourcing and in terms of melding those services with branch banking.