jgsolari3/Kurt Peterson/Bankers/anybody...Help
Does CKFR look like the AOL of internet banking? - Big market share....no profits :-(
Don't get me wrong...I am a believer in the long term story. Just that the earnings look far down the road to me.
So help me out. Looking for Bankers that are in rollout with home banking and willing to share experiences. I am with a financial institution, and we are looking at home banking providers. CKFR looks like the only way to go, to me. What are your early results? What are consumers willing to pay? What is your expectation for penetration?
CKFR has gotten 1 million users by marketing to end users. Now they have changed their strategy and are going wholesale, letting the banks do the marketing to their checking account customers. Marketing studies show this is what the consumer prefers...Give me electronic access, data capture/download, and bill payment where I already have my accounts.
Some institutions have reached 30% penetration of checking customers who have PC's with modems if they give the service away for free. If you charge them, adoption rate drops considerably. At least from the results I have seen shared.
Number of people using home banking today = 1% of those with a bank account . NOT a misprint. If estimates play out, growth will be exponential over the next few years and still only reach 4-5% of those with bank accounts.
Stock hasn't been doing too well. I am itching to get in. But, when do the earnings show up? Or, at least, when do the revenues and number of users start to take off? With 150 banks signed on, including 7 of the top 10, even at a 2-3% adoption rate the number of users should expand nicely. Any estimates on the number of retail accounts represented by the banks already signed on?
Check out this site...
getbills.checkfree.com
It's an example of how CKFR users will be able to elect electronic billing from participating merchants. Still a little buggy, I think.
As another poster pointed out, the potential savings to a company of doing the billing/$ receipt/posting to the customer account completely electronically is in the $2.00-4.00 range, PER BILLING.
Let's talk....
Brian |
