INTERNET BANKING MOST POPULAR IN CANADA
By Adnews Staff
Canadian financial institutions are ahead of the rest of the world when it comes to Internet banking, according to a survey by Ernst & Young of Toronto. A quarter of the 16 Canadian banks surveyed had Internet banking in 1996 and all of them will make it available by 1999. Only 13% of the 130 Canadian financial institutions surveyed had Internet banking last year, while about 80% plan to offer the service by 1999. Banking by telephone and through automated teller machines are also growing in popularity. Because of this trend, 67% of banks intend to change branch layouts and 35% plan to cut down on their number of branches. The survey questioned financial institutions in 17 countries. The sixteen Canadian deposit takers surveyed including the six biggest banks.