A leader in measuring the digital world, comScore, Inc., recently released a report on the Canadian online banking sector showing that Canada is one of the world's most developed markets for online banking. 

Basic, everyday financial services are out of reach for more than 2 billion people in developing countries. But the rapid growth of branchless banking ─ including mobile phone banking ─ is reducing the cost and expanding the availability of such services.

A 2007 banking survey conducted by Javelin Strategy & Research in Pleasanton, California discovered that over 150 million American banking customers do not bank online because of their security concerns. This lost mar­ket share translates into approximately $8.3 billion in lost bank profits on a yearly basis.

The Automated Clearing House Network (ACH) is an electronic funds transfer process between bank accounts. ACH is most commonly used for direct deposit of payroll and Social Security payments, although an increasing number of companies make accounts payable and tax payments via ACH. Electronic transactions are governed by the National Automated Clearing House Association (NACHA).