(Australia) – Internet and integrated e-banking services are continuing to be key drivers of the mid-corporate or commercial banking markets, according to a new survey from East and Partners.East’s second six monthly survey of the sub-A$100 million turnover segment of the Australian market has just been completed, and reveals that the sector is an increasingly intense area of focus for multi-service banks.
The survey shows that banks’ recent internal restructuring has seen them “come down the scale ladder” and offer mid-corporates many services previously the domain of major corporates, often through internet channels. There is also a trend for customers to engage a wider selection of products.
At the same time, internet banking services and integrated e-banking services are ranked the second and third most important product and relationship issues for customers after payables, and are both increasing rapidly in importance.
Second ranked factor – internet banking services – could well become the most important factor in the next survey if the current trend continues.
There is still a considerable gap, however, between what the customers want and what they are getting. Although the satisfaction ratings for these two key areas integrated have improved over this survey, banks’ performance in this vital area is still ranked by customers as only slightly above average.
In terms of primary transaction banking relationships, NAB leads the market followed by CBA, ANZ and Westpac, while St George continues to make up ground in fifth place and how has a market share of 4.9 percent.
For more information contact East and Partners at sales@eastandpartners.com.