Banks Step Up Online Brokerage Offerings American Banker/Gallup Consumer Survey 2000 (09/00) Vol. 16, No. 8 p.5A; Ackermann, Matt
According to the American Banker/Gallup consumer
survey, a growing number of investors are trading securities on
the Internet. More and more banks are realizing that customers
are interested in online brokerage services. The number of
online account holders who trade at least once a week tripled to
13 percent this year. The survey showed that 16 percent of
consumers who had previously bought securities did so online.
This figure is up 9 percent from 1999. Additionally, the survey
found that the next generation of investors are focusing their
investment-efforts online. Among respondents between the ages of
18 and 34, 31 percent bought or sold securities online. Thirty
percent of 35- to 44-year-olds purchased securities online--while
a mere 15 percent of 45- to 55-year-olds utilized the Internet.
The increasing competition between banks and online brokerages
has added to the amount of quality online offerings. Ongoing
improvements of Web-based trading sites has led to increased
customer satisfaction. Fifty-five percent of all respondents
said they were very satisfied with their online trading
experience. Only 4 percent of respondents were not satisfied.