JUPITERRESEARCH FINDS BANKS SHOULD PROMOTE ONLINE SECURITY AS A COMPETITIVE DIFFERENTIATOR
(New York, NY - April 12, 2005) - JupiterResearch, a division of Jupitermedia Corporation (Nasdaq: JUPM), announced today that a recently released research report finds strong evidence that banks can promote the security of their online offerings as means of differentiating themselves from competitors and winning customers. The report, "Online Banking: Employing Security as a Differentiator," found that, in a climate of heightened consumer awareness and concern about online security and fraud, 37% of online banking consumers believe some banks are more secure than others, while 43% place online banking security among the top-three factors in selecting where to bank.
"Concern about online banking security is widespread," said Bruce Cundiff, JupiterResearch analyst and lead author of the report. "Consumers believe some banks are more secure than others," added Cundiff. The report reveals that these attitudes create an opportunity for some banks while presenting challenges for others, particularly regional and local institutions. For example, 34% of online consumers are less concerned with online security at large national banks than at local banks, though just 21% of consumers already banking online make such a distinction. This suggests that marketing online security could help national banks win customers away from regional and local competitors.
"We undertook this study in direct response to questions raised by our banking-sector clients," said David Schatsky, Senior Vice President of Research at JupiterResearch. "Now is a critical time for banks to make use of market intelligence like this to preserve and enhance their competitive position," added Schatsky. The report highlights best practices for communicating about online security with consumers.
The complete findings of this report are immediately available to JupiterResearch clients online. For additional information on the report or JupiterResearch's Banking and Lending research service visit www.jupiterresearch.com or contact Kieran Kelly, Vice President of Global Sales and Client Service, at 1-800-481-1212 or [email protected].
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