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.


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