Hispanics Are At Home With Online Banking.

According to the Radio Advertising Burea, Forrester Research has drawn consumer data from a wide range of survey questions and developed a comprehensive profile of the financial lives of Hispanic-American households.

When it comes to online banking, Hispanics stack up nicely and even lead against the rest of America. Moreover, many are primed to receive financial advice and to consider a wide range of investment options. Forrester found that:

Online English-dominant Hispanics are active account managers. For looking up bank-account balances and making transfers between accounts, English-dominant Hispanics set the pace — they’re about 15 percent more likely to do so than non-Hispanics. They’re joined by their Spanish-dominant peers as clear leaders in online bill paying, with 24 percent of all Web-using Hispanics doing so compared with the 19 percent of all online non-Hispanics. However, with fewer households holding investments, online Hispanics are laggards when it comes to tracking investments and in buying and selling securities.

Hispanics seek expert advice but are more comfortable with risk. Hispanics, especially the Spanish-dominant and those online, express greater interest than non-Hispanics in relying on experts for investment advice. However, their appetite for advice does not reflect financial conservatism because Hispanics — whether Web users or not — are less likely to eschew investment risks.

All told, Forrester derives one unmistakable lesson for the banks and financial-service providers on your prospect list:

Don’t ignore your Hispanic customers and prospects. Cusotmers with fewer financial assets shouldn’t necessarily fall off such companies’ opportunity radar. Specifically, for institutions with significant bases of Hispanic customers, Forrester recommends that they tailor a banking experience to their customers’ language requirements and unique investment profile.

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