Virtually all financial institutions believe that their online banking and bill pay services are of extreme importance. These services are important because: A growing number of customers want to interact with their financial institution through an online channel Attrition is significantly lower among customers who use bill pay services (see side bar) Bill pay customers hold more accounts. Coupled with their loyalty, these customers are more profitable. Loyalty of this magnitude is extremely beneficial to the financial institutions who are best at recruiting customers into their online services. And for the institutions who lag behind - maintaining their core deposit customers becomes more difficult, and recruiting new customers becomes more expensive.

Online banking customers are 50% less likely to switch institutions and online bill pay users are 80% less likely to switch.1 Wells Fargo implemented kiosks in some branches and found that these "branches doubled their online banking and bill pay activation rates and had a 33% lower attrition rate for new customers".2

It has been reported that the mega banks enjoy bill pay penetration rates of over 25%. By contrast most community banks and credit unions hover around 7% or less. Clearly such a disparity can in part be blamed on the fact that the community based financial institutions do not have the sizeable media budgets the mega banks use to promote the convenience and security of their online offerings.

iBank provides a value oriented method for introducing and signing up your customers to your online banking and bill pay services.

	As a self service tool, iBank gives your customers an attractive and secure way to create an online or bill pay account. Learn how iBank compares to a PC on a desk. Click here to compare the iBank online banking kiosk product to a desktop PC .
	iBank's Employee Incentive Tracking software can help you manage your online banking adoption incentive programs. Click here to learn more about customer self service and incentive tracking .
	iBank is the most secure way to provide access to your online channel in the branch. Click here to learn more about the security features of our online banking and bill pay kiosks.
	iBank can help you extend your branch network. Click here to learn more about extending your branch network with self service kiosks.
	iBank provides secure self-service access to your website and other online resources. Click here to learn more about providing in branch access to your online resources with kiosks.

1. Online Ties: Web Banking Makes Customers Less Fickle. Steven Martin in InformationWeek, April 12, 2004.
2. Boosting Online Enrollment and Activation – Best Practices – by Catherine Graeber with Ron Shevlin and Peter Hult. Forrester Research, Inc. 2005