PFM tools are a value-added benefit for consumers, and financial institutions that make them available through their online banking platforms have found that they are an effective way to increase loyalty by positioning the institution as the trusted source for financial planning and advice.
PFM tools also provide institutions with inexpensive new personalized marketing channels and cross-selling opportunities.
While mobile banking is receiving much attention these days, online banking remains popular, no matter how the financial institutions’ websites are being accessed. Customers and members accessing online banking via computers and mobile web connectivity on their Internet-enabled phones.
The lines defining online and mobile web are blurring, and will continue to do so for the foreseeable future. Such features as PFM and billpay will see new capabilities within online banking, and will be increasingly available in the mobile space as well.
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