Research and retrieval of news articles by:
Bennett Gold LLP, Chartered Professional Accountants

SPECIAL NOTE TO ALL VISITORS:
Effective December 31 2012, articles are no longer being updated on this web site.
The site is now maintained as an historical archive, covering notable e-commerce news articles from the period 1999 to 2012.

LACK OF PRIVACY, PORTFOLIO TRACKING SCORE HIGH IN NEW BANKWORKS STUDY

Posted on March 25, 2001

      The Internet may be emerging as a catalyst in the realignment of the financial industry however privacy remains a concern even among Web-savvy users, results of a study released this week reveal.

      The study conducted by BankWorks, a Toronto market research and consulting firm that focuses on topics related to financials services and technology, examined behaviours and attitudes of "affluent" investors who use financial portals and investment Web sites. Apart from privacy concerns, the majority of the 1,053 respondents also appeared to miss the human touch during their electronic investment sessions. "Even the technology savvy investor doesn't always want to transact online," said Helen Sinclair, CEO of BankWorks and former president of the Canadian Bankers Association.

      "Investors miss the ability to negotiate and the comfort of dealing with an accountable individual. They are also feeling overwhelmed with the quantity of information available."

      Findings were compiled through focus groups and online surveys completed during the fourth quarter of last year. Participants had a minimum of $100,000 in "investable" assets. The research, which was purchased by several Canadian investment banks, investment fund companies, technology firms, discount brokers and full service brokers, also revealed that research and portfolio tracking activities are a lot more important to people than the ability to actually make a transaction.

      The portfolio tracking capabilities of independent portals were generally better than financial institution sites. Plans are underway to conduct a second survey later this year. "You have to keep this information current because it changes so fast," Sinclair said.

E-Commerce Alerts are issued by Bennett Gold LLP, Chartered Professional Accountants as situations develop. Bookmark this site and check back often. Our e-mail address is: info@BennettGold.ca

In accordance with United States Code, Title 17, Section 107 and Article 10 of The Berne Convention on Literary and Artistic Works, the news clippings on this web site are made available without profit for research and educational purposes.

ALERT
ARCHIVES
Final Entries
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999