Lessons from the High-Rate Deposit Marketers

ING Direct proves the online-only concept has staying power

Jim Bruene

August 2005

: OBR 120/121

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Although no more than 2% to 3% of the general public currently holds an account at one, the online-only banks have considerably more influence than their relatively small market share would indicate. This report looks at the growing influence of online-only banks including:
• Online-only bank forecast through 2020
• How the online-only banks attract deposit customers, and how any bank can use the same tactics
• How traditional banks are fighting back
• Deposit special offers at 60 retail banks and credit unions
• A closer look at five high-rate financial institutions: ING Direct, Emigrant Direct, MyBankingDirect from New York Community Bank, Western Financial, and MetLife Bank
• Website Usability (part 3): We run MyBankingDirect through our 62-point account opening evaluation with surprising results.

Lessons from the High-Rate Deposit Marketers

$295.00$695.00

SKU: OBR120/121

deposits, CDs, savings, FDIC-insured, marketing, rates, pricing, deposit gathering, internet-only, online-only, direct banks