Investment Industry Gears for Online Activity

June 2 - Banking by internet is something that many South Africans feel comfortable with, and the same can be said for purchasing insurance products.

The Director of investonline.co.za, Rod Lowe, therefore believes that it is only a matter of time that South Africans will be ready to make investments online.

"Banks and insurers have already successfully crossed the divide, with an increasing number of customers preferring to transact online thanks to the ease of use and often cheaper costs that online offers," said Lowe.

He continued to say that he expects to see the same appetite from consumers looking for investment products such as unit trusts, retirement annuities and so forth.

"We also believe the number of consumers who will look for investment advice using online platforms and tools is set to grow over the next few years," he added.

An incredible revolution in technology means that online services are literally at the consumer's fingertips, and many of the 45 million mobile phone users in the country will be seeking innovative means to use their devices.

"These kind of innovative developments in technology show how important the internet is becoming to investors and those interested in financial services products," said Lowe. "It is vital that any financial services company takes seriously the opportunities that the internet provides."

It will be interesting to see how quickly and to what degree online investment takes place, compared to online insurance.