Online Banking in the Age of Web 2.0 (Strategic Focus): Industry Research Report

Online Banking in the Age of Web 2.0 (Strategic Focus)

Published Date: May 2008

Published By: Datamonitor

Page Count: 6

Order Code: R313-33254

Questions About This Report

E-mail a Colleague

Printable Page

Fax Your Order

Description

Table of Contents

Search Inside
this Report

Similar
Products

Overview: Catalyst; Summary; Key Messages; Online banking has grown up and become part of the retail banking channel mix; Generations X and Y enter the market as internet-savvy consumers; Banks need to maximize the revenue generation potential of their online channel; Not all banks' internet services are the same; Integration with sales and marketing faces the challenge of back-end silos; Web 2.0 brings both promises and challenges; The technology vendor landscape presents a lot of variety; Table of Contents; Table of figures; Market Opportunity; Online banking has grown up and become part of the retail banking channel mix; Mature banking markets: online is a supplementary channel, not a replacement; Immature markets: opportunities in internet, but also mobile banking; Generations X and Y enter the market as internet-savvy consumers; Banks need to maximize the revenue generation potential of their online channel; The promise of multi-channel selling; Banks need to keep innovating; Internet Banking Evolution; From proprietary dial-up to browser-based online banking; Servicing and sales via the internet today; Internet banking transactions and services: not all banks are equal; Moving to sales via the internet; Usability and convenience remain a challenge; The brave new world of Web 2.0; Overview of Web 2.0 technologies; Banks are dipping their toes into the waters of Web 2.0; Forays into virtual worlds have so far borne little fruit; Mashups are an easier concept for banks; Impact on Banks: Making Online Offerings More Compelling; Integration with sales and marketing faces the challenge of back-end silos; A single customer view is required for retention and up-sell; Usability and convenience remain a challenge; Web 2.0 - threat and opportunity in equal measure; Security and brand impairment are the biggest risks arising from Web 2.0; A UK bank faces the wrath of socially networked students; Investors campaign against frozen ABCP market on Facebook; Web 2.0 has immediate potential for B2C communications; Web 2.0 can also empower internal communications; The future of Web 2.0 in banking; Competitive Landscape; Channel vendors; S1 Corp.; Chordiant Software; Portrait Software; Fiserv taps Portrait for CBS Aperio and buys CheckFree, gaining Corillian in the process; Fidelity creates TouchPoint; Eglue; Sybase Financial Fusion; Transaction acquiring platform vendors; ACI; Fidelity's eFunds; CR2; Core system vendors; Metavante; Misys; Temenos; TietoEnator; Financial Objects; SAP; i-flex, Infosys and FNS; Dedicated internet banking vendors; Intelligent Environments; Intuit's Digital Insight; Specialist vendors; Adobe; EdgeIPK; WorkLight; Go to Market; Offer single-view capabilities, whether or not the bank has undergone core renewal; Integration of data across product silos; Sell enhanced customer relationship, not Web 2.0; Stress the security of your technology
APPENDIX: Methodology; Further reading; Ask the analyst; Datamonitor consulting; Disclaimer
List of Figures: Figure 1: Broadband penetration in selected OECD countries; Figure 2: Banks' investment priorities show that no single channel is expected to dominate; Figure 3: Online banking timeline; Figure 4: Typical online banking service functions available to retail customers; Figure 5: Vendor landscape