Functionality and usability in design for eStatements in eBanking services

The current Internet Banking (eBanking) marketplace is highly functionally convergent. Electronic statement (eStatement) functionality is an area of potential competitive advantage. This paper describes an experiment in which a group of bank customers (N = 182) undertook information retrieval tasks using three variants of eStatements functionality incorporated into a working eBanking prototype. The experiment examined how the eStatements service design could influence a customer's desire to switch from paper statements to online delivery. Three different levels of functionality were assessed for usability and for their impact on the customer's willingness to switch from paper to eStatements. The methodology of the experimental approach utilised in this research is described. The results provide detailed data to inform the interface design and business case for eStatements. Usability and propensity to switch away from paper were significantly correlated. The data confirm that provision of a functionally sophisticated search engine offers high usability perceptions and scope for significant levels of switching from paper to online statements with associated costs savings.