TECHKNOW: Net heads

TECHKNOW: Net heads - NAME: Peter Duffy

Last Updated: 31 Aug 2010

NAME: Peter Duffy

POSITION: Head of online banking, Barclays

web site

Peter Duffy has 12 years' experience in financial services, the last six of them with Barclays.

Before moving to his present position he was responsible for current account strategy.

When did you become interested in the internet?

Barclays became interested just before we launched in August 1998; I'd say we were interested in the six months running up. We became interested because, as we witnessed the proliferation of the net and the dramatic upsurge in usage, we began to see it as a key distribution channel for our products and other financial services. I've been into it myself since 1997.

How much time do you spend surfing each day?

It varies, but at least an hour every evening at home. At work, I use the internet on an as-needs basis so it depends on what I'm doing. I also find it's a good facilitator for phone conversations, when you're both looking through the same site and talking.

Which sites do you use each week?

Obviously, the Barclays site and the Line One site ( I then use sites depending on what I'm doing. I'm particularly interested in travel sites and I like horses, so there's the Racing Post site ( I also tend to look at what's new at companies retailing and providing services over the net, as we are, rather than those that are just information providers.

Who are your advisers? work with us on our internet strategy.

What is your company's web strategy?

To enable customers to go online and have the whole Barclays experience.

They should be able to access their accounts, purchase Barclays products and service those products online. We want to make Barclays the UK's leading internet bank. We have half-a-million internet customers and we want to maintain that lead by delivering superior value to these customers. The reason that people are turning up in droves at the moment is because our method is very easy to use and makes it very simple to manage your finances.

What is the most significant change the internet will bring about?

The most significant change for consumers is that the internet will deliver choice in a way that has never been available before. There will be a whole new range of products and services at people's fingertips and there will be an associated time saving. For example, video on demand, the almost immediate downloading of music, online shopping and banking free up a lot of time. So, as well as choice, existing actions will be able to be completed much more quickly and efficiently over the net.

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