Summary of survey on Internet banking Online enrollment, Account opening, and Fraud Prevention May 2004

Short Description
The purpose of the Internet banking survey was to gather information on banks’ practices and procedures related to enrolling customers in online banking, opening accounts online, and monitoring, detecting, and preventing bank account fraud perpetrated using the Internet as a channel. Thirteen banks, all large institutions, responded to the sixty-six page question survey. The survey addresses practices for consumer, business, and wholesale accounts.

Website: www.aba.com | Filesize: 129kb
No of Page(s): 5

Content
• Authentication for enrollment for online banking. Virtually all banks (92%) allow automated enrollment without manual intervention for consumer accounts. Of those, virtually all (91%) require the use of a debit card personal identification number (“PIN”), among other means of authentication. Approximately 40% allow automated enrollment for business accounts, and none allows automated enrollment for wholesale accounts.
• Opening new accounts via the Internet. Of the banks responding, approximately 75% of the banks will open a new consumer account through the Internet, 54% will open a new business account, and 15% will open a wholesale account.
…

Get the file Download here