More NewseCommerce Leads to Concentration of Business with Online Providers – Survey

eCommerce Leads to Concentration of Business with Online Providers – Survey

A survey by The Royal Bank of Scotland (RBS) and gtnews suggests that online strategies are now critical to banks’ ability to grow and maintain market share. The survey found that more than 30 per cent of organisations increase the proportion of business conducted with their top three banks as a result of trading online. The survey also found a sharp increase in the numbers trading online. In a similar survey conducted in 2002 just 18 per cent of respondents said they were trading treasury and capital markets products online. In just two years, that has now increased to 40 per cent for corporates and over 50 per cent for institutions. The average percentage of deals traded online by corporates is 70 per cent, with just under a quarter of respondents trading between 80-100 per cent of their transactions online. Tom Roche, Global Head of eCommerce and Agency Treasury Services at RBS Financial Markets, said: ‘These findings indicate a clear – and growing – appetite for online trading. Technology allows us to develop stronger links with our customers, providing them, in some cases, with the potential to generate new revenue.’

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