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September 18th 2007 - Two thirds of people in the UK now bank online. They love its speed and convenience but it takes only one bad experience for them to return to their High Street branch.

The ‘one strike and you’re out’ study, commissioned by website experience management company Gomez, has found online consumers are demanding increasingly higher standards of their virtual banks.

60% say that one mishap would change their attitude toward online banking, whilst 26% say they would stop using the particular bank entirely.

And the impact of one bad experience moves far beyond the individual who had it. Once the customer has lost confidence, they're keen to share their tale of misfortune! 43% of people would share a bad experience with at least 5 people close to them, with nearly one in five (17%) admitting they would tell more than eleven people.

Regional Variations:

•People in the East are the biggest fans of online banking, with 80% stating it was their preferred option
•People in the North West lag behind with just over half (53%) preferring online banking
•People in the Midlands are most likely to keep a bad online banking experience to themselves, with 12% saying they would tell no-one
•People in Wales are most likely to spread their bad experience, 61% would tell more than 5 people, well above the national average of 43%

David Flower, VP EMEA, Gomez, commented: “Banks’ customers have had enough online experiences to form discriminating value judgements about a brand often on the basis of their web site’s performance. In the highly competitive retail banking sector, online banks must ensure they deliver a positive online customer experience, otherwise they might find their customers deserting them.”

About the ‘one strike and you’re out’ study:

The study was commissioned by Gomez, Inc. The Research was conducted by ICM between 24th-31st August 2007
1009 people were questioned.

About Gomez:

Gomez is the leading provider of on-demand web application experience management solutions, helping the world's top businesses ensure quality web experiences for their customers. Gomez ExperienceFirst applications are used by more than 850 companies worldwide, including eight of the top 10 most visited sites, six of the top 10 retailers, nine of the top 10 financial services firms, five of the top 10 social networking companies, and four of the top 10 industrial companies. Founded in 1997, Gomez provides the industry's only complete solution for managing web application experience from development through deployment and the entire application life cycle, featuring active monitoring, competitive benchmarking, and more than 15,000 data sources worldwide.

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For more information:

Vikki Chowney / Lesley Booth
Six Degrees
Tel: 01628 480280 /

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