Increase in people who purchase financial products online

15 December 2005
More and more people will purchase their financial services online in 2006, Sainsbury's Bank has suggested from its latest figures.

In fact, the financial provider said over the last 12 months it has seen a 73 per cent increase in visits to its own website and expects this interest to continue throughout next year.

Research from GfK Financial backs up the prediction, estimating that during the 12 months between June 2005 and June 1006, 4.8 million people would have completed a financial application online - up 23 per cent for the same period in 2004/2005.

Kevin Barrett, director of E-Commerce at Sainbury's Bank said: "The internet has become an important life tool, playing an increasing role in the way we conduct our daily affairs – whether it's shopping, booking a holiday or sorting our finances. The general acceptance of buying goods or services online means that the web is now a mainstream and vital channel for businesses to interact with and sell to customers.

"Websites act as a 'shop front' and are increasingly the customers' primary contact with a brand."

Mr Barrett says the growth in online applications could partly be attributed to the increasing level of high-speed internet connections at home.

track© Adfero Ltd