CALABASAS, Calif. (10/6/08)--Credit unions may want to note that trust and familiarity are two important factors consumers consider when managing their money on the Web, according to a Digital Insight survey. About 68% of consumers rated their credit union or bank as the most trusted place to keep their online financial information secure, while 66% picked a website hosted by an established company as their second choice. “People want a trusted place to view all of their accounts, make better decisions about where they spend their money, and pay their bills with peace of mind that their information is safe and secure,” said Sasan Goodarzi, Digital Insight president. Other findings included:
* About 25% of consumers switched financial institutions because of a recommendation from friends or family members; * Roughly 61% said the most important financial management feature is the ability to manage and pay all bills in one place; and * Nearly all survey respondents banked with an institution that offers online banking, but only 24% of these said their financial institution provides valuable information. About 87% said their credit union or bank only helps them pay bills.
Digital Insight offers FinanceWorks--powered by Quicken--which allows consumers to manage accounts across more than 5,000 financial institution and credit card sites. FinanceWorks aims to help middle-market credit unions and banks meet the needs of their members/customers to be competitive with larger financial institutions.