Update On comScore conFusion

Spoke to Serge Matta and Brian Jurutka from comScore today about my post regarding comScore’s online banking statistics.

Although I linked to comScore’s press release, I didn’t cite another source upon which I drew some of the data — this Marketing Daily article. My apologies for that, and a lesson learned for me — because the article was wrong.

The base for comScore’s online banking adoption count is not customers (as reported in the article), but something much closer to households. comScore tracks what Serge and Brian referred to as “machine level” — and since most households tend to use one machine to access and manage accounts, this should track closely with households. This puts it pretty much in line with Forrester’s numbers (at least I was right in betting on the Forrester numbers).

Secondly, Marketing Daily also got the ranking wrong. The celebration in Atlanta on being ranked the number three “online bank” was short lived for SunTrust. The correct ranking puts it at number ten, just ahead of Nat City — a ranking much more in line with the underlying asset size of the banks.

So…thanks to comScore for taking the time to clear up the confusion.

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