Interactive Television and European Banking
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, Interactive Television and European Banking 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."