-When there is a sufficient amount of people using the technology the financial services will come along and deliver services," Australia's Computer Science Corporation (CSC) director solutions development Keith Pfeiffer told ZDNet Australia.
Digital TV is in disarray in Australia at present according to Pfeiffer, with little headway being made since the free-to-air networks--which are providing the technology--switched digital in January this year.
United Kingdom Woolwich Building Society's director of e-commerce Terry Holland--in Australia to talk about banking on digital TV--believes that despite the uncertainty surrounding the technology, Australia will follow in the footsteps of the success of digital TV in the UK, with free-to-air networks providing similar services within the next 12 months.
Research by Woolich Building Society has proved the success of digital TV in the UK, with statistics showing a higher adoption rate than WAP.
Once the technology is in place and there is critical mass, CSC predicts Australia's big four banks and UK financial institutions will start to deliver financial systems for banking on interactive TV in Australia.
-It's about technology and the adoption as to when financial services will follow in the footsteps of the UK," Pfeiffer told ZDNet.
-I think it will occur late 2002, but there is enough uncertainty to suggest the time frame could extend further," he said.
Pfeiffer said some financial institutions in Australia are watching the digital TV space very closely, -while others wouldn't even understand what's coming".
-The UK financial institutions in Australia and the big four banks are watching it closely, however, many US financial organisations are basically ignoring it. They tend to be more Internet and WAP eccentric," Pfeiffer said.
-They are watching, but we can't see as yet who will be first out of the pack," he said.
