No doubt banks face eroding trust among their customers. Consumers are fed up with a steady barrage of debit card and non-sufficient funds fees. Yet on the highway of financial management, many banks have realized that being seen as a compass – rather than a tollbooth – might actually have a greater benefit in the long run. Enter the era of online personal financial management.
With consumers more focused on saving and budgeting, Web sites such as Quicken.com and Mint.com have gained popularity. The sites allow users to bring account information together in one place so they can track spending easily.