September 23, 2008
Internet banking about to get leapfrogged
I’m often asked where Internet banking is headed, given its a service that hasn’t really changed much in the last ten years.
There’s been no reason to change given Internet banking is still more popular than Facebook, but bankers must realise there is a shift happening in the way consumers access financial information.
Just as consumers no longer rely solely on their banker for advice or money-related news and content, in future it’s possible we may also get our quantitative financial data elsewhere.
Sites like Wesabe, Mint, Geezeo, Moneystrands, Xero, and more recently Ratesurfer and iThryv are all doing a great job of delivering financial information to consumers when and where they need it – and that isn’t always their bank’s website.
In this 5 minute Sky Business Channel interview I touch on this trend and what it means for Internet banking.
Written by: Charis
Filed Under: The Better Banking Blog
Tags: Charis Palmer, Geezeo, Internet banking downtime, iThryv, Mint, Moneystrands, online banking 2.0, online social finance, Ratesurfer, wesabe, Xero
Trackback URL: http://www.bankingreview.com.au/2008/09/internet-banking-about-to-get-leapfrogged.html/trackback
Debbie
September 23, 2008 at 3:45 pm
Great interview – congratulations, Charis, and thanks for the mention!
Best,
Debbie Pfeifer
Wesabe
james w
September 25, 2008 at 12:49 pm
I don’t know, I really don’t know.
Some people, I dare say the majority, of people just want to be able to check their balances.
Maybe I’m wrong. I don’t know. I’ve used wesabe, it’s cool, but not for me.
andee
September 26, 2008 at 5:29 pm
One of the dangers in thinking like a monopoly game is that these days people don’t live like that any more. We don’t “go past go”, recieve money for doing so and buy houses for cash.
In traditional monopoly you only make use of a mortgage when you’re in trouble!! What the last 100 years of financial engineering has done is teach the whole world to have things BEFORE they can afford it so that now a person gets a mortgage to buy the property in the first place. Millions of people think that the line of credit which has been approved by the bank is MONEY that they can spend and accordingly continue to acquire debt at an alarming rate. What we need is some new ways of teaching people to understand Debt and Equity and how to think multidimensionally when it somes to their money.
Andee at: Sherpa Talk