Saturday, October 6th, 2012 - Roy Morgan Research
Banking is a clear example of how the Internet is changing the way people interact with their financial services providers.  This year, for the first time ever, Internet Banking has overtaken branch visits and is now the second most popular channel of banking, behind ATMs.
Now, 47.5% of Australians 14+ conduct their banking via the Internet, ahead of ‘visiting any branch’ (45.6%), according to the latest State of the Nation Report (No. 12) from Roy Morgan Research.

ATMs (77.1%) remain the most frequently used channel while phone banking (17.8%) peaked in 2003 and is now in decline.

Major Banking channels used in an average 4 weeks

Source: Roy Morgan Single Source (Australia), July 1997 – June 2012, 12 month moving average.  Average 12 month sample size = 54,729.

The websites of all the major banks each have over 2.5 million visitors in an average 4 weeks.  Commonwealth Bank’s website is ranked 14th in Australia, with 4.4 million visitors in an average 4 weeks.

Michele Levine, CEO, Roy Morgan Research, says:
“Online banking has enjoyed continuous growth over the last 14 years, at the expense of branch visits.  Just one of the implications of this change for banks and their customers is that the lack of personal interaction may possibly lead to a weakening of the traditional relationships and loyalty, resulting in reduced barriers to mobility.

“The banking & finance industry exemplifies an industry that has embraced the Internet and technology and been transformed by it.  With smartphone penetration now at 46%, the increased use of Apps and mobile internet will continue to drive change in how Australians interact with their financial services providers.”

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Roy Morgan Research

Roy Morgan Research is the largest independent Australian research company, with offices in each state of Australia, as well as in New Zealand, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan Research has over 70 years’ experience in collecting objective, independent information on consumers.

In Australia, Roy Morgan Research is considered to be the authoritative source of information on financial behaviour, readership, voting intentions and consumer confidence. Roy Morgan Research is a specialist in recontact customised surveys which provide invaluable and effective qualitative and quantitative information regarding customers and target markets.
Alex Dalidakis
P: +61 3 9224 5209


banking, internet, online, web, finance, banks



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