AIB fetes decade of internet banking as this year’s transactions total 12m

MORE than 12 million transactions will be processed this year on AIB’s internet banking service.

The bank said yesterday that over half a million customers currently use the internet facility, which is ten years old this week.

In that time 50 million transactions have been processed.

Also since the mobile top-up service was launched five years ago, seven million mobile transactions have been made.

General manager at AIB, Billy Andrews said: “AIB internet banking is a real success story. The growth and popularity in internet banking has been phenomenal since 1997.

“Conceived as a banking service for the future, internet banking has now become a mainstream banking channel that complements our extensive branch, phone and ATM network.

“Our research shows record levels of satisfaction for AIB Internet Banking. And we’re not happy standing still. We have highly ambitious plans for the future and are firmly focussed on remaining Ireland’s number one internet bank.”

Customers using the on-line service for more than five years increased from 18% in 2005 to 31% this year.

Almost 45% of customers use the service weekly, while mornings between 9am and 10am are the most popular usage times.

The most popular service is checking transactions, with 94% of users citing this use.

This is followed by three out of four people transferring money between accounts and 68% paying bills.

AIB also said that 15% of all loans sold are taken out on-line.