How far over budget am I this month? Were there any spending irregularities? What were they?
Seemingly simple questions, but which to answer, can prove to be exceedingly difficult for the typical Canadian consumer. If you’re one of the few people who are able to maintain their version of Quicken, regularly download and categorize their banking transactions, and can generate financial reports on-demand, you’re far ahead of the game. But what about the rest of us?
Being able to log into a website, view transactional history, and even pay bills were revolutionary features… 10 years ago. For whatever reason, online banking hasn’t changed very much for Canadians since 1998. Automatic categorization, intelligent spending analysis, fraud alerts, personalized investment advice – these are the features and tools that will differentiate a bank from its competitors in the next 10 years.
Imagine switching to (or staying with) a bank because it offered a truly superior, online money management experience. Consider the quality of the customer you’ve gained as a result, versus the bank that resorted to a switch-to-us-and-get-a-free-iPod promotion.
Filed under: On Demand, SaaS , Customer Experience, Money Management, Online Banking
