Home banking versus personal banking in the retail market


Technology is a key resource of profound importance for corporate profitability and growth. One specific form of technology in retailing is self-service technology. The services industry, however, could be viewed as different from the product industry when it comes to the consideration of self-service technology. This is especially so when one considers that human staff plays a vital role in the delivery of services. This paper discusses the experts' opinions of the future of customer interface technologies in the New Zealand retail banking environment. In particular, it reports on brainstorming sessions, interviews, and a Delphi study held with leading executives from various sectors of the economy. The research indicated that in the future utilization of home banking by television will be limited to a specific and small market segment. Home banking by personal computer will be relatively more widespread, although it is unlikely to be used by more than 20 percent of the banking population. Home banking by automated telephone service will be more widespread still, yet acceptance is unlikely to be greater than 30 percent of the banking population. The use of human bank tellers will gradually fall over the next 20 years, as more and more transactions and functions are performed by electronic means. ’Staff-less branches (which are staffed predominantly by self-service technology) will be available in all the main city centres before the turn of the century.

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