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Account Aggregation: the right way forward?Published by: Datamonitor Published: Dec. 28, 2001 - 134 Pages Table of ContentsEXECUTIVE SUMMARY INTRODUCTION What is this report about? Who is the target reader? How to use this report What is IMPACT 2001? MARKET CONTEXT Introduction What is account aggregation? Scraping away The US leads the way Europe slowly catching on Aggregation going global Australia South Korea Japan Canada The business rationale for aggregation Account aggregation won't come cheap Becoming the first port-al of call The models behind account aggregation So what's in it for consumers? The future potential of account aggregation Determinants of the demand for account aggregation Product/service suitability Market structure What to make of Sweden? Areas of contention in account aggregation The limitations of screen-scraping technologies Negotiating the regulatory maze European regulatory framework Australia: ASIC Act and Trade Practices Act First Union account aggregation guidelines BITS guidelines APACs Best Practice Aggregation Guidelines: Aggregation through consent The alternative to scraping Open Financial Exchange (OFX) Potential pitfalls of providing account aggregation Is sooner better than later? To aggregate or bundle: is that the question? Consumers are indifferent as to whether buying multiple services from a single supplier brings cost savings Two-thirds of consumers like the idea of a single point of contact A majority of consumers don't want to put all of their eggs in one basket Consumers demand to be in control Aggregate and bundle: is that the answer? Conclusion Data tables CUSTOMER FOCUS Introduction Conceptualizing the potential consumer demand for account aggregation Accessing the Internet Conducting financial affairs online Conducting non-financial affairs online Potential to aggregate: supermarket loyalty club/card schemes Cross-sell potential Bringing customers in Conclusion Data tables COMPETITVE DYNAMICS Introduction Citibank - "My Accounts" Service offering The model Competitive advantage ROI Accounts available Customer uptake Moneysupermarket - "Account Plus" Service offering The model Competitive advantage ROI Accounts available Customer uptake Accountunity Service offering Competitive advantage ROI Accounts available Customer uptake Conclusion Account aggregation technology providers Staking a claim in Europe Adhesion Technologies Strategy Products/services Latest developments uMonitor Strategy Products/services Latest developments Cashedge Strategy Products/services Latest developments Parkers' Edge Strategy Products/services Latest developments Yodlee Strategy Products/services Latest developments Stackbox Strategy Products/services Latest developments Corillian Strategy Products/services Latest developments Teknowledge Strategy Products/services Latest developments 724 Solutions Strategy Products/services Latest developments Conclusion THE FUTURE DECODED Introduction The US and Europe: different stories from the same book? The story of eBanking: part two Getting mobile? Know which side your bread is buttered on Travel down the best-of-breed road or stop at the junction Market forecasts APPENDIX Research methodology Primary and secondary sources Definitions Future readings SPP writing team How to contact experts in your industry (c) Datamonitor 2002. All Rights Reserved. AbstractAccount aggregation will be a key development in Financial Services in 2002. However, despite many launches of the service in the US, questions persist surrounding consumer demand and the likelihood of ROI. This report looks at the development of account aggregation so far in Europe, the US and elsewhere and explains the business rationale for its introduction. It goes on to analyze how consumer behavior and attitudes may affect the demand for account aggregation using IMPACT 2001, Datamonitor’s net generation consumer survey, and includes profiles of technology vendors and of providers offering account aggregation. It concludes with quantitative and qualitative forecasts for the future direction of the service.Get Full Details About This Report >> |
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