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Internet Account Aggregation: Creating a “Sticky” Web Interface for Financial Services

Published by: TowerGroup

Published: May. 1, 2000 - 13 Pages


Table of Contents


Highlights

Vision

Introduction

Background

  • Demand
  • Beyond Financial Services: The Portal Approach

    Aggregation Technologies

  • Open Financial Exchange (OFX)
  • Screen Scraping
  • Other--Direct Feeds or Proprietary Technology

    Aggregation Providers

  • Business Models
  • Vendors
  • Corillian Corporation (www.corillian.com)
  • Teknowledge Corporation (www.teknowledge.com)
  • VerticalOne Corporation (www.verticalone.com)
  • Yodlee (www.yodlee.com)
  • Advent Software (www.advent.com)
  • Differentiation

    Aggregation Sites

  • OnMoney (www.onmoney.com
  • Quicken.com (www.quicken.com)

    Benefits to End User

  • Convenience
  • Personalization/Customization
  • Financial Planning

    Benefits to Aggregation Hosts

  • Customer Loyalty/Increased Usage
  • Revenue Generation

    Conclusion

    Abstract

    As a delivery channel, the Internet continues to make waves within the financial services industry. One the latest capabilities and developments for online financial institutions, portals, and other Internet services providers is account aggregation. Portals, financial firms, and vendors are enabling individuals to view, on a single Web site, information from their various accounts at different financial institutions.

    This TowerGroup Research Note examines the concept of account aggregation and discusses issues of concern to the retail investment industry. This Note will profile various vendors that provide account aggregation technologies and review destination Web sites that provide this service.

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