For over a decade, financial institutions, driven by advances in Information and Communication Technology (ICT), have been shifting to a new business model that prioritizes new channels for managing customer relationships. These new channels, which are based on the Internet and mobile devices, offer major business and growth opportunities. This chapter looks at the current status of online and mobile banking in Spain from the perspective of both financial institutions and users and compares it to the situation in Europe at large. Following an analysis, it draws a number of conclusions regarding the future prospects of these channels and the areas offering the greatest potential for growth and profitability.
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