Ecommerce still expanding - survey

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The third annual Focus Quotient survey of ecommerce in financial services has found another step-change in the use of electronic means to write and transact new and existing business.

Published by technology provider Focus Solutions, the survey indicates a six-fold increase in the use of ecommerce on an indexed basis since 2001. Ecommerce accounted for one-in-six new business transactions in the industry in 2003, up from one-in-27 in 2002, the survey's figures suggest. Another major shift of the past year was the usurping of IFA extranets as the chief means to drive online business. Direct sales accounted for 34% of electronic transactions, against 23% for extranets, Focus reports. New points-of-sale solutions are heavily responsible for this shift, Focus sug...

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