Online Banking in the Age of Web 2.0 (Strategic Focus) - Comprehensive overview of online offerings in retail banking

Table of Contents

• 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 oftheir 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 banksare 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 challengeof 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