With the number of online banking users increasing at a global compound annual growth rate of 20% through 2012, online banking is poised to become the primary customer touchpoint in the next 10 years.
In the United States, online banking transactions will make up 40% of all bank transactions by 2012.
To avoid disintermediation, banks will need to study consumers' daily lives to determine current and future consumer financial needs rather than wait for customers to ask for new products and services.
Innovative banks are now recognizing that the online banking site has the potential to be the home page of a consumer's financial life and are crafting the channel to achieve that status.
Strategic plans for online banking and their resulting projects must all have the guiding principle of making online banking essential for consumers to function every day.
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