MoneyDesktop Aiming to Make PFM More Appealing

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Let me try to recap: potentially misleading bar charts, cool bubble charts, un- and mis-categorized transactions and yet still only single digit active user rates and still little revenue generating opportunity for Banks. How does MoneyDesktop's solution differ from the dozens of other PFM providers in the marketplace and from the in-house solutions offered by banks? Is it the bubble charts? Should Bankers care?

Has any PFM answered the key questions such as: How will PFM increase wallet share? Grow profitable customer base? Improve ROE?
Posted by Serge Milman | Optirate | Monday, November 26 2012 at 10:34AM ET
Thanks for your comments and questions, Serge. I plan to run a series on various PFM providers, which should help highlight the differences among the players.

To your comment on PFM to date, I agree that PFM delivered through online banking has had abysmally low usage to date and there's still a lot PFM has to prove to banks. That said, PFM still needs better promotion and real estate to help grow awareness of its existence to bank customers. Better data visualization always helps, too.

I think the potential of mobile (smartphones and tablets) and PFM is a combination to pay attention to: Mobile's unique features (camera, etc.)help eliminate data burdens required of customers, while also helping them take financial action during a moment when they need/want to.

I view the relationship of banking and shopping as becoming deeper and deeper. Because of the smartphone. Because of the tablet. Because of the data. I'm curious to see the space evolve.
Posted by Mary Wisniewski | Monday, November 26 2012 at 5:40PM ET
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