Over the last few years there has been an increased interest in online banking. That interest is expected to continue to grow into the future as people become more mobile with the popularity of mobile computing devices like smart phones and tablets. Online banking is especially well suited for current owners and future owners of tablets. Payment of bills via online platform over the recent past has been on the increase accounting for the at least fifty percent of all payments of bills made in the United States for instance for the house holds that have internet access.
According to several consumer surveys done by different scholars and institutions dealing with the banking business, there is an upward trend by consumers in the usage of digital avenues to conduct their financial services. This trend has been constantly observed since the year 2002 to date. The scholars and researchers have observed that consumers are increasingly getting inclined towards the online and mobile avenues for daily financial solutions. This has been so especially with the owners of tablets and thus their demand is promising to increase in the near future.
The surveys have for the most part been conducted in USA on the online populations that are representatives of households. In order to understand the future trends in online banking better, it is good that a sample of the results be looked into. As per the findings of the survey some 19 percent of households with online usage have ownership of a tablet. On the same breath there is a 20 percent of the online population that anticipate owning a tablet. From the above survey it is clear that 39 percent of the online population will most likely be owners of a tablet in the near future. Even with the percentage population who own a tablet, they have expressed high level of willingness to own a second one in the future. The implication is, there most likely will be an upward trend in the usage of the gadgets in establishing and enhancing financial relationships among this group.
Generally the people who own a tablet right now and the ones who anticipate owning one in the near future have expressed a lot of interest in usage of their tablets for accessing financial services.
Some forty five percent of the online population has expressed interest in using their tablet to do banking. The expansion of the kind of banking services the population would like to do with their tablets is : Viewing of monthly statements, making payments of bills, viewing their real time accounts’ information and money transfer services from one account to another at same financial institution. The consequence of increasing tablet ownership is that financial services for instance, banking based on tablets will grow tremendously.The importance of online platform for initiating and keeping financial and consumers’ relationship is on the rise. Classic examples of these include online opening of ordinary bank accounts, issues of opening credit accounts, making savings. Also, processes of securing loans and mortgages, especially for first timer consumers, on an online channel have been observed as another frontier. In a nutshell, future trends in online banking will be determined a great deal by mobile gadgets technology especially the much coveted tablets.