Traditional banking goes online!

Last week, I blogged about ANZ's Max Bourke.

SO I became curious of what all these banks gotta do with online!

I found that contrary to the Internet participation rate of 84% has remained fairly stable in 2009, the graph above points out behaviour of consumers to media have changed greatly; the hours spent on internet has increased impressively from 16.6 to 18.3 hours, more than any media. The gap difference in usage between the city and rural has shrunk to only 3%.

I also found banking is the second most regularly conducted activities online – 76%, increased 4 percent points from 2009 and had been increasing every year since 2005. The highest growth for online services in 2010 is also expected to be banking.

Technology has made the world smaller while this has expanded the digital marketing landscape opportunity for businesses. Digital trends have greatly affected the transformation of traditional business like banking toward online operations. To ensure survival in 21^st century, digital marketing is no longer an option.

Today's bank has conducted their promotion through Facebook, Twitter, Youtube or even blog! It will be interesting where technology will take this traditional business to. In the future, we could barely see face of any real person bankers as they all may have become robot operating all transaction online.