Financial Services Industry
Industry: Email Alert RSS FeedONLINE BANKING: PNC, Frost Respond To Gen Y Demands
Bank Technology News, September, 2008 by Rebecca Sausner
Attracting Gen Y customers who are used to sending 50 or more text messages a day requires a new approach to online banking, one that combines knowledge and control built into simple personal financial management tools—in short all the functionality they expect from Web 2.0.
Thus far, most banks have failed to keep up with the innovation of nonbank financial sites. “The industry as a whole is doing a terrible job,” says TowerGroup senior research director George Tubin. “They’re falling behind on things like having Flash capability to make their Web sites and online banking experience more useable, adding simple to use PFM capabilities, using blogs and podcasts.”
But with the success of nonbank PFM sites like Mint, Wesabe and others, online-only high-yield...
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