Synopsis

In the 1980s, initial homebanking service offerings were propelled by the PC with videotex trying to exploit its ability to connect to existing financial service platforms. Now, all of the banks and building societies offer e-banking facilities using Internet and IVR for funds transfer, account balances, bill payments, ordering bank statements, historical transaction overviews and bank information services. The Internet is the main access medium for e-banking, and by early 2003, the number of Internet banking users had crossed the 6 million subscribers mark. The online broking market has also matured, seeing the 30 or so service providers consolidate into a dozen in 2003.