The Internet is a convenient place until bureaucracy gums it up. One in five users hoping to establish an online bank account abandoned their efforts because the sign-up procedure was too complicated, reports a study by Frederick Schneiders Research.
The issue: too much red tape. Investor relations folk need to make the personal information forms less time consuming to fill out, yet still ensure that security is being upheld.
Eighty-five percent of those who bank online worry about virtual vultures seizing their information. But, of those who bank online, 80% prefer it to the brick and mortar method.
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