Serving customers' banking needs online has been proposed to be a cost-saving move for the Financial Institution (FI). These same online services have also been posited to result in higher customer value for the FI. This study analyses the records of two FIs (totalling over 500 000 users) to determine the elements of behaviour and demographics that explain the differential value. Actual execution of online transactions is found to contribute most highly to customer value, along with use of checks, customer age, tenure with the FI and use of other transaction channels.
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Witman et al. (2008) studied this question.