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Overview |
1 |
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Catalyst |
1 |
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Summary |
1 |
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Key Messages |
2 |
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Online banking has grown up and become part of the retail banking channel mix |
2 |
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Generations X and Y enter the market as internet-savvy consumers |
2 |
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Banks need to maximize the revenue generation potential of their online channel |
2 |
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Not all banks' internet services are the same |
3 |
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Integration with sales and marketing faces the challenge of back-end silos |
3 |
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Web 2.0 brings both promises and challenges |
3 |
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The technology vendor landscape presents a lot of variety |
4 |
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Table of Contents |
5 |
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Table of figures |
6 |
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Market Opportunity |
7 |
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Online banking has grown up and become part of the retail banking channel mix |
7 |
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Mature banking markets: online is a supplementary channel, not a replacement |
7 |
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Immature markets: opportunities in internet, but also mobile banking |
8 |
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Generations X and Y enter the market as internet-savvy consumers |
8 |
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Banks need to maximize the revenue generation potential of their online channel |
10 |
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The promise of multi-channel selling |
10 |
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Banks need to keep innovating |
12 |
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Internet Banking Evolution |
13 |
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From proprietary dial-up to browser-based online banking |
13 |
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Servicing and sales via the internet today |
14 |
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Internet banking transactions and services: not all banks are equal |
14 |
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Moving to sales via the internet |
16 |
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Usability and convenience remain a challenge |
16 |
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The brave new world of Web 2.0 |
17 |
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Overview of Web 2.0 technologies |
17 |
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Banks are dipping their toes into the waters of Web 2.0 |
18 |
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Forays into virtual worlds have so far borne little fruit |
18 |
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Mashups are an easier concept for banks |
18 |
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Impact on Banks: Making Online Offerings More Compelling |
20 |
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Integration with sales and marketing faces the challenge of back-end silos |
20 |
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A single customer view is required for retention and up-sell |
21 |
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Usability and convenience remain a challenge |
21 |
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Web 2.0 - threat and opportunity in equal measure |
22 |
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Security and brand impairment are the biggest risks arising from Web 2.0 |
22 |
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A UK bank faces the wrath of socially networked students |
23 |
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Investors campaign against frozen ABCP market on Facebook |
23 |
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Web 2.0 has immediate potential for B2C communications |
24 |
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Web 2.0 can also empower internal communications |
24 |
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The future of Web 2.0 in banking |
24 |
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Competitive Landscape |
25 |
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Channel vendors |
26 |
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S1 Corp. |
26 |
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Chordiant Software |
27 |
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Portrait Software |
28 |
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Fiserv taps Portrait for CBS Aperio and buys CheckFree, gaining Corillian in the process |
28 |
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Fidelity creates TouchPoint |
28 |
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CR2 |
28 |
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Eglue |
29 |
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Sybase Financial Fusion |
29 |
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Transaction acquiring platform vendors |
29 |
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ACI |
30 |
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Fidelity's eFunds |
30 |
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Core system vendors |
30 |
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Metavante |
30 |
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Misys |
30 |
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Temenos |
31 |
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TietoEnator |
31 |
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Financial Objects |
31 |
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SAP |
31 |
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i-flex, Infosys and FNS |
32 |
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Dedicated internet banking vendors |
32 |
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Intelligent Environments |
32 |
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Intuit's Digital Insight |
32 |
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Specialist vendors |
33 |
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Adobe |
33 |
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EdgeIPK |
33 |
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WorkLight |
33 |
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Go to Market |
34 |
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Offer single-view capabilities, whether or not the bank has undergone core renewal |
34 |
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Integration of data across product silos |
35 |
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Sell enhanced customer relationship, not Web 2.0 |
35 |
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Stress the security of your technology |
35 |
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APPENDIX |
36 |
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Methodology |
36 |
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Further reading |
36 |
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Ask the analyst |
36 |
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Datamonitor consulting |
36 |
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Disclaimer |
36 |
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List of Figures |
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Figure 1: Broadband penetration in selected OECD countries |
9 |
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Figure 2: Banks' investment priorities show that no single channel is expected to dominate |
11 |
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Figure 3: Online banking timeline |
14 |
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Figure 4: Typical online banking service functions available to retail customers |
15 |
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Figure 5: Vendor landscape |
26 |