Commenting on the research, Sridhar Seshadri, Business Head, financial services, Google India said, “The dependency of financial services on online marketing will grow dramatically over the next few years, thanks to initiatives such as simple customer acquisitions, up-selling, cross-selling and major cost cutting initiatives from advertisers”.

As per the survey about 18% of the financial service products are sold online in India and before buying products such as insurance, banking services, prospective customers indulged in research activities such as comparing details, costs, requesting for a catalogue or a prospectus, hunting for special rates etc.

The research also indicates that financial service sector is doing very well online and search engines seem to have become a great platform to gather all information.