Gartner Research

Add Social Capabilities to Online Personal Financial Management to Keep Customers

Published: 02 December 2011

ID: G00226084

Analyst(s): Stessa Cohen


To enhance the customer online banking experience, banks must start with PFM and a graphical view of their bank account information. However, they shouldn't stop there; banks must link the customer's personal goals with bank advice and services.

Table Of Contents
  • Overview


  • Introduction
  • Inadequacy of Online Banking Systems to Manage Cash Flow
  • Personal Financial Management Emerges to Meet New Needs
  • What Banks Are Doing to Offer PFM Capabilities
  • The Functionality Behind PFM
  • Initial PFM Capability Will Fail to Engage Customers
    • No Connection to Revenue
    • Lack of Addressing Customer's Goals
    • Need to Focus Beyond Online Banking Delivery
    • Limited Opportunity for Customers to Use PFM to Socially Engage
  • How to Get Started With PFM
    • Deployment Considerations
    • Educate and Market

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