Another Reason to Love Apple (AAPL): the 'iBank' Idea
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Finally an Apple (Nasdaq: AAPL) survey that both: a) has nothing to do with a specific product and b) produces another reason why Apple will continue to dominate in its respective field.
Time Magazine recently asked "Would you bank with Apple?" Citing a research project by consulting firm KAE and survey company Toluna, there were some startling results.
First let's preface with what Apple knows about consumer banking. The list is going to be pretty short at "nothing." Yes, the company does corporate finance and people who work for Apple not doubt have a savings account somewhere. But Apple, as a whole, cannot claim it has handled an individuals money for safekeeping and growth.
The Time survey showed, of 5,000 random people selected, only 10 percent said they would bank with Apple. That right there is telling; people want to bank with Apple for what reason? They make solid mobile devices?
For those who actually own an Apple device, the number rips to 43 percent. That's huge. People enjoy Apple so much and have so much faith in the company, they would trust the tech company to handle their personal savings. Time said two-thirds of those surveyed would use an "iBank" because they trust the brand. A little more than half believe the iBank would be "user friendly" with "reliable customer service."
Of the respondents, many were already tech savvy. About 80 percent said they bank online while 62 percent utilize mobile banking. This is probably one of the great reasons why Apple will continue to flourish: brand loyalty.
With Apple recently discussing pursuing the introduction of a mobile payment system to compete with Google (Nasdaq: GOOG), MasterCard (NYSE: MA), eBay's (Nasdaq: EBAY) PayPal, Verifone (Nasdaq: PAYX), and more, the iBank idea could be just around the corner...
For some reason though, the survey didn't mention investors who have been banking on Apple for a few years now!
Shares are indicated higher Friday.
Time Magazine recently asked "Would you bank with Apple?" Citing a research project by consulting firm KAE and survey company Toluna, there were some startling results.
First let's preface with what Apple knows about consumer banking. The list is going to be pretty short at "nothing." Yes, the company does corporate finance and people who work for Apple not doubt have a savings account somewhere. But Apple, as a whole, cannot claim it has handled an individuals money for safekeeping and growth.
The Time survey showed, of 5,000 random people selected, only 10 percent said they would bank with Apple. That right there is telling; people want to bank with Apple for what reason? They make solid mobile devices?
For those who actually own an Apple device, the number rips to 43 percent. That's huge. People enjoy Apple so much and have so much faith in the company, they would trust the tech company to handle their personal savings. Time said two-thirds of those surveyed would use an "iBank" because they trust the brand. A little more than half believe the iBank would be "user friendly" with "reliable customer service."
Of the respondents, many were already tech savvy. About 80 percent said they bank online while 62 percent utilize mobile banking. This is probably one of the great reasons why Apple will continue to flourish: brand loyalty.
With Apple recently discussing pursuing the introduction of a mobile payment system to compete with Google (Nasdaq: GOOG), MasterCard (NYSE: MA), eBay's (Nasdaq: EBAY) PayPal, Verifone (Nasdaq: PAYX), and more, the iBank idea could be just around the corner...
For some reason though, the survey didn't mention investors who have been banking on Apple for a few years now!
Shares are indicated higher Friday.
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