YOUNG CANADIANS FLOCK TO COMPUTER AND PHONE BANKING
By Adnews Staff
Up to 62% of Canadians aged 18 to 29 could be doing their banking by computer or telephone by the end of 1997, according to a survey done for A.T. Kearney of Toronto. The number of Canadians banking by telephone or computer is expected to double over the next 12 months. Twenty-seven per cent of respondents said they have banked by phone, computer or both. Of those who said they have not used these alternatives, 32% said they would consider it in the next year. The likelihood of banking by phone or personal computer varies by age from a high of 31% for people aged 18 to 29, to allow of 12% of those over 65. Twenty-two per cent of those who said they would not use these forms of banking said it is because it will depersonalize their service, while 18% have concerns about privacy. Fifteen per cent questioned the accuracy of computer and phone banking and 11% weren't comfortable with the technology. The survey was based on a random sample of 900 Canadians taken in January. It was done by COMPAS Research of Ottawa.