Online Banking | Finance

Banks and financial businesses still lack innovation on the web

The internet banking pioneer Jim Spowart says that 10 years after the arrival of internet banking, the UK’s bank and financial companies lack a clear vision of where to go next.

APACS marks 10th anniversary of online banking

This week APACS, the UK payments association, marks the 10th anniversary of online banking in the UK (27 May 2007) - a significant milestone in the evolution of UK banking and payments.

Fool.co.uk: 10th birthday of online banking

As Nationwide celebrates ten years of internet banking, David Kuo, Head of Personal Finance at Fool.co.uk, comments: “Internet banking has revolutionised the way that consumers can access their money. Gone are the days of the 3-6-3 rule, when bankers would pay 3% interest to depositors, charge them 6% for loans and then be playing golf at 3pm.

Nationwide celebrates ten years of Internet banking

Nationwide Building Society is celebrating the tenth anniversary of the launch of the UK's first internet banking service on 27 May 1997.

Fool.co.uk: Barclays new ID Fraud prevention scheme

Following news that Barclays Bank is handing out handheld chip-and-pin card readers as part of a new security initiative for its online banking customers, David Kuo, Head of Personal Finance at Fool.co.uk, says:

moneysupermarket.com: UK online banking figures

Commenting on figures showing the number of people in the UK banking online has increased to 21 million, Kevin Mountford, head of current accounts at moneysupermarket.com, said: "Clearly there is demand for online day-to-day banking services and this is being heavily pushed by most banks as it greatly cuts their operational costs. However, it is a shame the industry cannot do more to inject confidence and support this trend by providing a more effective and easier way to open new accounts online."

Over half of all internet users now bank online

The number of adults using online banking has increased by 505% in the past seven years from less than 3.5 million in 2000 to just over 21 million last year, according to APACS, the UK payments association.

Online banking more popular than social networking

The credit crunch is turning Britain into a nation of ‘money-surfing experts' according to the latest research from online bank cahoot. Indeed, the findings show that 38 million Brits have managed their finances online - either at home or at work.

Internet banking still has a strong future

Jim Spowart, the chairman of Peopleschampion.com, speaking on BBC Radio Five Live and the Today Programme today (19 Sept), says internet bank is still a viable way to deal with customers’ money.

Online banking usage amongst over 55s up fourfold

In the past five years the greatest proportion of new internet banking users are in the over-55 age group, according to APACS, the UK payments association.

Red reminders to be shown the red card

Two thirds (66 per cent) of Britons have received a ‘red reminder’ for payment of their bills with 63 per cent blaming forgetfulness new research from Lloyds TSB Internet banking reveals.

Figures prove the need for online caution

The dangers of internet scams are highlighted by the disturbing 207% rise in the number of facility takeover frauds recorded by Members of CIFAS - the UK's Fraud Prevention Service.

PayPal urges Brits to beat phishers and 'get safe online'

As Get Safe Online Week 2008 (17th-21st November) draws to a close new research from PayPal, the way to pay and be paid online, reveals that half of Britons (50%) who shop online are concerned about protecting their details online and avoiding fraud or identity theft (49%).

Online banking going mobile

Moneybookers, one of Europe’s largest online payment systems, and Clickatell, leading provider of global mobile messaging solutions, have announced a partnership to offer mobile SMS alerts on transactions for over 5 million eWallet customers. Moneybookers customers can now receive text notifications directly to their cell phone anytime, anywhere, when purchases are completed, goods are mailed or money transfers are wired. This brings an advantage in terms of security, as customers always have an overview of the transfers on the account and can cancel unwanted transactions immediately.

Cyber crime soars with rise of online banking

As the latest banking industry figures report a leap in the number of UK adults banking and using credit cards online, financial data analyst Moneynet.co.uk warns that fraudsters are becoming ever more determined to perpetrate cyberspace raids on personal finances.