Customers flocking to secure online banks

 

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Posted on 29 Apr 2008 at 11:15

One third of UK net users regularly uses online banking according to figures from a recent report, with customers flocking to the most secure services.

According to a Comscore report, nearly 11 million users accessed at least one online banking service in the first month of 2008 alone, equivalent to one third of the UK online population.

Interestingly, the most popular banks online correlate closely with the most secure banks in our recent Online Banking Exposed feature.

The Royal Bank of Scotland, including Natwest which it owns, accounted for 2.9 million of users during the month, making it the single most popular online banking service in the country.

RBS and Natwest also emerged as the joint winners in our security analysis, which looked at what measures different organisations have in place to protect against identity theft and fraud.

The next most popular service used in the UK was Lloyds TSB, which interestingly was the second most secure option in our feature.

Unfortunately the survey was conducted using data from January, before our feature ran, so we cannot take credit for an exodus of users to more secure banks.

Author: Matthew Sparkes