At this week’s BAI Retail Delivery Show, Fiserv grabbed some attention with its new Online Advantage e-banking platform, which upgrades online banking to a rich Internet application (RIA) interface to power an institution’s integrated billpay/personal financial management tools– as well as supply analytics for targeted-marketing efforts by examining users’ behavior.
The enhanced online system, which combines the RIA with features added from Fiserv’s December 2007 acquisition of both the Corillian online banking platform and CheckFree, was constructed from suggestions by surveyed consumers on usability and capabilities they wanted in a banking site. Using Microsoft’s Silverlight technology – a rival Web 2.0 app to Adobe’s Flash program – Fiserv will integrate about 90 percent of online banking services on to a single-view page, rather than through a series of links.
Besides personal financial and budgeting tools, banks will also be able to offer remote deposit services to home users and family-banking capabilities that bring account entitlement rules to customize access to multiple users of an account. User activity through the platform will help feed data analytics for banks to build targeted upsell and cross-sell programs to their customers.
Online Advantage took home a Best of Show at the October Finovate 2008 conference in New York.