Few Women Use Internet for Financial Management

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Though a majority of women in America control the household purse strings, few use the Internet as a day-to-day part of their financial activities, according to a study released yesterday.

Vanguard Media, Salt Lake City, surveyed 1,000 women and found that while 50 percent are online at home and more than 30 percent at work, only 20 percent of women use the Internet to gather financial information. When women do use the Internet, they visit their local banks about as often as they visit Yahoo.

"Financial institutions have a unique opportunity to position themselves competitively in the online market -- especially among women," said Cindy Kindred, managing partner at Vanguard Media. "The fact that their local bank is a starting point as often as a large portal such as Yahoo gives credibility to a local bank's online efforts."

The good news for financial institutions on the Web is that women rank the Internet as a trustworthy source of financial information.
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