Abstract
Overview
The economic crisis has accentuated consumers' hunger for effective
money-management tools. Web startups such as Mint, Geezeo and Wesabe have
raised consumer expectations, vividly demonstrating how practical and simple
such tools can be for monitoring and analyzing one' s finances. But banks and
credit unions still hold the fundamental advantage of being able to pair such
tools with the unmatched ability to conduct transactions in a trusted
environment. Included are a product roadmap and detailed feature comparison
and ranking of seven online-banking vendors: Digital Insight, Fiserv, Jwaala,
Harland Financial Solutions, Metavante, S1 and Yodlee. Part one of a two-part
series, this report will be followed with a second report highlighting the
consumer attitudes and behaviors.
Primary Questions
- What are the most important elements of a winning personal finance
management (PFM) package?
- How should vendors develop their product roadmaps for money-management
tools?
- What capabilities define a second-generation “PFM Deluxe”
offering?
- Where is personal financial management headed in the future?
- Which online-banking vendors offer the most compelling and complete
personal finance capabilities?
Report Statistics
- Audience: Financial institutions: E-commerce, mobilebanking and marketing
strategists.
- Vendors: Online-banking platform providers, online-banking vendors,
online-banking marketing.
- Others: Personal finance Web sites.
- Authors: Mark Schwanhausser, Analyst, Multichannel Financial Services
- Length: 49 pages, 8 charts/graphs
Methodology
This vendor analysis is based on a survey collected from executives with each
of the seven online-banking platform vendors. Additional information was
solicited during interviews with executives from the vendors, banks and credit
unions and Web-based startups.
To evaluate products, Javelin asked each vendor to answer nearly 125 questions
that delved into the availability of specific features and functionality. For
example, the category of “customer-controlled” covered 10
questions exploring 34 specific features or capabilities, while the category
of “transparent” capabilities was composed of a single question
broken into 11 parts.
Table of Contents
- Overview
- Primary Questions
- Key Findings
- Methodology
- Executive Summary and Key Recommendations
- Why Banks Have the Edge Over Web Start-ups
- ‘Customer-Driven Architecture' Builds Foundation for Success
- How the Vendors Compare
- Javelin Vendor Analysis: Products From Seven Online-Banking Providers Show
Promise, Limitations of
- PFM Tools
- Digital Insight
- Fiserv
- Jwaala
- Harland Financial Services
- Metavante
- S1
- Postilion Signs Reseller' s Deal With Yodlee
- Yodlee
- Appendices
- Related Research
- Companies Mentioned
Table of Figures
- Figure 1: Personal Finance Management Vendor Scoring
- Figure 2: PFM Overall Product Roadmap
- Figure 3: Number of Registered Users of Leading Money-Management Web Sites
- Figure 4: Customer Experience and Business Impact
- Figure 5: How Customer-Driven Architecture Should Shape PFM Products
- Figure 1 (Repeated): Vendor Rankings
- Figure 6: Vendor Target Markets
- Figure 7: PFM Vendor Ranking and Detailed Product Roadmap
- Figure 8: PFM Return on Investment
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