The UQ School of Economics Professor Emeritus Clem Tisdell has had an article published by International Banker recently about the uptake of internet banking in Australia.
He points out that the uptake of internet banking has been rapid and has significantly changed the nature of banking operations. These changes have both advantages and drawbacks for customers. The customers who do not bank through the Internet appear to be the main losers. Those who engage in Internet banking gain as a result of its transactional advantages, but in many cases this is offset, to varying degrees, by reduced personal service and by security concerns. Most Australian banks probably have not yet found the appropriate balance between reducing costs by encouraging Internet banking and maintaining personal banking services.
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