The Bankwatch

Tracking the consumer evolution of financial services

Archive for the ‘Direct Banks’ Category

Japanese online shopping site Rakuten to open eBank

Rakuten [wikipedia Site]  is a highly popular Japanese shopping destination online, where you can get anything, from laptops to shoes to travel, you name it.  Now they are adding their own bank in 2010.

The aggregated model exemplified by Rakuten works well in Japan, and the addition of banking is one more innovation for traditional banks to contend with.

Rakuten online shopping mall to open eBank

rakuten w107

TOKYO, Jun 04, 2009 (Kyodo News International – McClatchy-Tribune Information Services via COMTEX) — Internet mall operator Rakuten Inc. said Thursday it will rename its Internet banking unit eBANK Corp. as Rakuten Bank before late June 2010.

Researched by Nobuyo Henderson

Written by Colin Henderson

June 4, 2009 at 17:00

Virgin plans internet bank in UK

Things are beginning to happen.

Branson plans launch of Virgin internet bank | Observer [hat tip Finextra]

Richard Branson is to launch an internet bank in a move designed to exploit public disgust with Britain’s big banks in the wake of the credit crunch.

Branson follows Tesco, which is also planning to capitalise on disenchantment with traditional banking via a big push into financial services.

Written by Colin Henderson

May 18, 2009 at 22:36

Posted in Direct Banks

Direct Banks exhibit 20% market penetration

This is a fascinating statistic, especially when we see that the income levels of the participants are 50% higher than the average.

Net Banks Gain One in Five Internet Households – 02.01.2008 – Bank Technology News Article

The survey of 1,032 Internet households found the average age of an direct-banking user is 47.8, with an average income of $99,200 a year – compared to the average online banking user who is 52.1 and earns $60,300 annually

Written by Colin Henderson

February 6, 2008 at 12:38

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