Ecommerce still expanding - survey

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

Carlyle emerges as buyer in Intelliflo takeover deal – report

Carlyle emerges as buyer in Intelliflo takeover deal – report

Private equity group Carlyle secures ownership of Intelliflo

Sahar Nazir
clock 20 August 2025 • 3 min read
As advisers are zigging to AI, how do you zag?

As advisers are zigging to AI, how do you zag?

'Be visible. Be local. Be helpful before you’re needed'

Harry Webster
clock 14 August 2025 • 4 min read
AI in financial services: Hype, hope, or a bit of both?

AI in financial services: Hype, hope, or a bit of both?

'It's important to maintain a healthy dose of scepticism and here's why...'

Doug Boyce
clock 06 August 2025 • 4 min read