In the development of our fourth quarter 1998 GSQ we were surprised at how difficult some bank Web sites are to navigate. Understanding that there are really two types of Web sites, information sites and commercial sites, we know that the commercial sites are all about glitz and glitter. Given the "information" nature of banking, one would expect that substance would win out over style; however, this is not the case.
NFO Interactive, a provider of custom and syndicated marketing information, recently conducted a comparative survey of financial service Web sites, and apparently came to the same conclusion. The survey identified seven factors that influence customer satisfaction. They are:
1. Simple, intuitive site navigation
2. Site visual appeal
3. Availability of valuable financial information
4. "One-stop" source of financial information
5. Fast execution of real-time services
6. Provision of up-to-date content
7. Rapid page downloads
The NFO comparative study queried more than 700 online clients of the following Financial Services Web sites:
* Charles Schwab
* Citibank
* First Union
* Quicken, Quote.com
* Wells Fargo
"Within the industry, financial information Web sites such as Quicken and Quote.com best meet the needs of consumers," says Lee Smith, Director of Interactive Research and Consulting at NFO Interactive. "Compared to bank Web sites, financial information Web sites possess clear strengths in the area of real-time services and rapid execution. Their integrated provision of diverse financial information; security of personal information; and delivery of up-to-date content is superior to those of most banks." The survey found that all financial services Web sites need to work on providing faster downloads, easier navigation, and more up to date content.
But, banks arenít the losers all around. The report did state that banks are superior to on-line broker and financial information sites in the areas of design, layout, and organization.
So they may not have the most effective sites or the easiest to navigate, but they sure look pretty. Thatís whatís important, right?
