Bigger online banking services aren`t necessarily better. According to IDC, while many banks are considering services such as wireless access and online account aggregation, other value-added services exist that are less expensive, easier to implement, and possibly more beneficial to consumers.
"Online banking managers who are continuously looking for fresh approaches to online banking programs now have a wide variety of emerging value-added Internet services from which to choose, including virtual safe deposit boxes, expense management services, and financial planning and advice tools," said Ian Rubin, director for IDC`s Online Financial Services Research programs. "Not only are these services offered in ASP models, but they complement existing Web-banking services and have elements of revenue generation for the bank."
According to FDIC estimates, 65% of all U.S. banks with at least $3 billion in assets offer online banking. IDC expects this percentage to rise dramatically as more midsize and community banks begin offering Internet services. With rising competition, banks will need to add new online services to differentiate their banking programs from those of their competitors.
IDC`s eBanking group recently published What Have You Done for Me Lately: Emerging Value-Added Services for Online Consumer Banking (IDC #B23714). This bulletin examines the following emerging value-added services for online consumer banking: virtual safe deposit boxes, expense management services, and financial planning and advice. This bulletin discusses the products, vendors, and banks implementing these services. Contact Details below to purchase this bulletin.
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International Data Corporation (IDC)
BMI-T has established a long-standing business relationship with the International Data Corporation (IDC). With research centres in over 40 countries and more than 500 research analysts and 3 900 clients world-wide, IDC provides a global market perspective on IT market and technology trends. As the exclusive South African partner of IDC, BMI-T has instant access to IDC`s formidable knowledge base and consulting skills, and is positioned to offer African clients access to the full range of IDC `s global research.
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BMI-TechKnowledge Group (BMI-T)
BMI-TechKnowledge (BMI-T) is Africa `s leading supplier of market intelligence and knowledge-based consulting in the areas of IT, telecommunications and broadcasting.
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