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To: metalia who wrote (20030)	4/21/2003 1:42:40 PM
From: StocksMan	Read Replies (1) \| Respond to of 20297

comScore Quantifies Positive Economic Impact of Online Bank Bill Payment Services Monday April 21, 8:00 am ET First Industry-Wide Analysis Based on Actual Consumer Usage of Bill Payment Services RESTON, VA--(INTERNET WIRE)--Apr 21, 2003 -- comScore Networks, the standard in Internet behavioral measurement, today announced the results of the first industry-wide study of the impact of consumer online banking and bill payment activity upon bank business performance. The comScore research transcends simple "unique visitor" metrics by quantifying actual, active usage of bill payment services. The research revealed that approximately 20 percent of U.S. Internet users in Q4 2002 were active online banking customers.* Approximately 12 percent of these customers paid at least one bill through their bank's online bill payment service during this period, which represents an increase in the number of customers of 42 percent since the first quarter of 2002. "The rate at which consumers are adopting online banking and bill payment services ranks these two activities among the fastest growing on the Internet," noted Mike Sinco, director of analytics for comScore Financial Services Solutions. "However, individual banks are achieving varying degrees of success in bringing customers online." Among the 11 major banks studied, Bank of America is the clear leader in the rate of adoption of online bill payment, with more than 25 percent of the bank's online customers making an online bill payment in the fourth quarter. Bank of America also leads the industry based on overall number of active online customers, followed by Wells Fargo and Citibank. Fleet has also demonstrated success in converting a relatively high percentage of online customers to using their online bill pay service. Online Bill Payers are More Loyal and Higher Value Customers comScore found that online bill payment users were more than twice as likely to remain active online banking customers compared to non-bill payment users. Online banking customers who did not use their bank's bill payment services showed an online attrition rate** of 34 percent, compared to only 16 percent for those who were active bill payment users. . . biz.yahoo.com