More AIB customers do business online

AIB customers are switching from making payments by cheque to the more modern way of paying over the internet.

The number of customers using AIB’s internet banking service to make regular banking transactions, payments and purchase financial products online continues to increase.

During July over 5 million customers logged onto the service. This represents a growth of over 25% from 2007 with an average of 170,000 customer log-ins every day.

The convenient and easy to use service continues to drive online payments with an overall rise of 20% year-on-year, reaching 1.5 million internet payments in July.

Research shows the main increase are:

20% increase year-on-year in the mobile top up service

28% increase year-on-year in domestic transfers to friends and family

40% increase year-on-year in international payments

“This strong growth in online payments appears to mirror a drop off in the level of personal cheques now being written,” say AIB.

The trend for purchasing financial products online is also showing strong growth.

With an ever increasing range of products and services online, sales in 2008 have already reached the total for all of 2007.

In an eco-friendly move, more bank customers are opting for the eStatement initiative which cuts out paper to receive their statements online. As a result, over one million eStatements will be delivered in 2008, helping customers to do their bit for the environment.

Sean Jevens, Head of eChannel Development, AIB, said the internet has become a critical way for customers to carry out business with the bank. “The consistent levels of growth across all aspects of internet usage and sales are clearly demonstrating a migration to an electronic economy.”

The appeal of ebanking is that customers can transact business at a time and place when it suits them.

Article courtesy of The Evening Echo