HDFC Bank tops in online banking

A study said they spend comparatively much lower time (less than half) on ICICI Bank while users spend maximum time on HDFC Bank and Citibank sites.

The online properties of HDFC Bank dominated ICICI Bank followed by The State Bank of India (SBI), according to a research report by ViziSense, an online audience and ad measurement platform. 

Private sector banks such as HDFC Bank, ICICI Bank and Citibank, and public sector banks like the SBI, Bank of Maharashtra and Punjab National Bank were included in the report, said a press release.

The research, which analyzed the user activity on the websites of both public and private sector banks, also said that HDFC Bank sees the highest incidence of repeat visits by a user in a month (7 visits) and also sees the maximum average time spent by a user followed by the SBI (5 visits) and ICICI Bank (4 visits). 

While users spend maximum time on HDFC Bank and Citibank sites, they spend comparatively much lower time (less than half) on ICICI Bank, the research report said. This could also mean ease of site navigation, quick download speeds or ease of transactions facilitated by the ICICI Bank site.

The SBI has witnessed maximum usage from outside metros whereas Citibank usage is primarily driven by metros. In addition, high incidence of duplication is seen amongst the users of ICICI bank, HDFC Bank and CitiBank.

“Given reduced transactional costs and higher reach through online banking, banks have been highly successful in getting a significant chunk of their urban user base to engage with their online properties. Higher adoption of online banking will fuel rapid growth of e-commerce and online payments in India,” said Amit Bhartiya, GM, ViziSense.

View the full story in Cybermedia India.