Interactive Television and European Banking

by Isabella Fonseca, April 5, 2002

Abstract

Milan, Italy April 5, 2002

Celent Communications predicts iDTV banking services to continue to play a role in the development of financial institutions’ distribution strategies. However, high renewal costs may slow down bank adoption for this channel.

In a new report, Celent examines the evolution of iDTV banking services in the European marketplace, including product and technology development. The report predicts that over 35 percent of total digital TV subscribers in Europe will use iDTV banking services by 2005. Consumer adoption levels will depend on the product mix and interactive content provided by financial institutions on the digital TV screen.

According to

Isabella Fonseca, author of the report, "iDTV still remains at the experimental stage for most banks. Approximately 17 financial institutions provide a full-service offering via this channel. Others have pilots underway. This means that the number of banks offering iDTV banking services has doubled since last year. iDTV still holds promise for the future as an additional customer touch-point, but will have to be evaluated according to what will work best for the financial institution’s overall expansion plan."

A Table of Contents is available online.

of Celent Communication's Retail Banking and research service can download the report electronically by clicking on the icon to the left.

        

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Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

 

Milan, Italy April 5, 2002

Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
IDTV PRODUCT DEVELOPMENT 6
  Types of Services 6
  Technology 7
BANKING SERVICES ON TELEVISION 9
  Development Stages 9
  Success Factors 10
MARKET OVERVIEW 13
SELECTED INITIATIVES 16
  HSBC-UK 16
  Abbey National-UK 17
  Banco Espirito Santo 19
RESULTS 21
  Adoption Rates 21
  Costs for iDTV 22
LOOKING FORWARD 25

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