Financial professionals turning to the Net

04/26/2001

Financial professionals are increasingly using the Internet to conduct business transactions.

Over 90 percent now use the Internet to get information on financial services including cash management, investment services, credit, foreign exchange, capital market services and derivative/hedging services.

Financial professionals are more likely to consult the Internet about services such as cash management and investment, than services that need more consultation such as deriviative/hedging and capital markets activities.

Those polled admitted to still being wary of moving to a completely online corporate finance environment. Concerns cited included the difficulty of authenticating the counterparty, the integrity of message, the security of information, and the enforceability of contracts.

About 40 percent said they were still likely to purchase foreign exchange online, while similar percentages said they would buy letters of credit or securities online.

Source of Article: NUA Internet Surveys

Date of Article: April 26, 2001

This figure is based on the estimate that knowledge workers waste between 15 and 25 percent of their time on “non-productive publishing activities”, such as seeking and capturing information.

As the need for digital publishing tools increases, AT Kearney predicts that the publishing market for IT tools and services will grow to be worth over USD250 billion by 2004. In other words, one-fifth of worldwide IT spending in 2004 will be on network publishing products.

New media companies will be the first movers in this market but most large companies will follow suit.

New network publishing services will enable consumers to have constant access to personalized content, and products such as a cellphone that will act as a camera and print pictures directly to a printer.

Source of Article: NUA Internet Surveys

Date of Article: April 17, 2001

For more information on Internet marketing visit WebMetro: Online Marketing