First Union: Easiest in Online Loan Applications

Share this article:
First Union National Bank offers the easiest way to apply for a home equity loan online, according to a recent study conducted by WebCriteria Inc., Portland, OR, a company that analyzes customer Web site experiences.


Eight bank sites were ranked according to time and effort required to apply for a home equity loan under WebCriteria's Task Analysis service. The less time and effort required for a task, the higher the rating.


First Union National Bank ranked first and earned a four-star rating, with a total task time of four minutes to apply for a loan. Bank One Corp. took eight minutes to apply and ranked last. Results of the test can be viewed at www.webcriteria.com/reports/loan.cfm.


Searching for the best home equity loan rates has become one of the most frequent task objectives at online banking sites, according to Alistair Williamson, CEO of WebCriteria. Williamson said reliable online bank services attract and retain customers.


"In addition to the obvious opportunity to attract new customers, banks can save a significant amount of money by conducting these business transactions online," Williamson said. "To retain satisfied customers, banks must have customer-centric sites that make it easy to complete financial transactions."


WebCriteria clients include Chase Manhattan, US Bank, Marriott, IBM, Verizon and Honda.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Opinions

The Best Birthdays Are Multichannel

The Best Birthdays Are Multichannel

The "best" birthday greetings aren't always the ones with the biggest deals.

Making Way for New Marketing Technology: Answers

Making Way for New Marketing Technology: Answers

The VP of marketing had backing from his CMO for new software, but the CIO had a different vision. How should he handle it? See how our readers would tackle ...

Becoming "Resource Full"

Becoming "Resource Full"

Stand out from the competition by being a go-to content source for buyers.