According to a survey conducted by interactive agency Rosetta, more than 50% of Americans prefer online banking and 48% would only do their banking online if they could (view press release). The survey, which explored retail banking trends, revealed that 52% of respondents use their bank's website as their primary method of banking, while 32% say the branch is their primary method of banking. The survey found that people use e-banking mostly to check account balances and recent activity, make individual bill payments to other accounts, transfer money between accounts and obtain financial information. The study also revealed that 64% of respondents feel there’s a need for stronger online security and privacy features; 58% of people surveyed expressed interest in rewards/points programmes for online banking and 57% of them expressed a need for 'clear and easy-to-follow' online layouts.

"Cash transactions, such as deposits and withdrawals, continue to keep consumers tethered to the branch," says Ned Elton, Rosetta Managing Partner. "However, this is becoming less of a factor because people are using credit more often than cash and because of the emergence of alternative payment options, such as PayPal and near field communications." Elton also explained that mobile banking solutions may further reduce the need to visit a retail branch. "It is our belief that many Financial Services companies have yet to fully capitalize on the potential of digital marketing to acquire new and engage existing customers," continues Elton. "As a result, their marketing continues to focus too much on traditional media channels and the 'bricks and mortar' world. We call this the 'digital divide'."