Report: Account Aggregation Should Be Stepping Stone To Improved eCRM
NEWTON, MA–Meridien Research, a financial industry technology analyst firm, has released
a report describing the strategic customer interaction issues facing financial services
institutions with the adoption of online account aggregation.
According to Meridien, the long-term acceptance of online aggregation for financial services
remains in doubt, with the current level of 600,000 active users far from the level needed
to signify a success. Meridien says they believe that financial institutions, particularly
those whose services are known and trusted, that implement and continue to develop online
account aggregation as the gateway to deliver more value-added services to help customers
feel more in control about their financial well being should gain competitive advantage.
“Online account aggregation is not an end to itself. Rather, aggregation needs to become a
tool to understand and add value to customers,” said Bill Bradway, Research Director at
Meridien Research. “This may be an important answer to the persistent question of how
financial institutions can better connect with their customers electronically and deliver
more effectively on their e-CRM strategies.”
Meridien says their 30-page report, entitled “Beyond Account Aggregation: A Magic Key to
E-CRM?” explores a number of critical issues surrounding how consumers define their financial
needs, the role of online account aggregation services, and the opportunities for financial
institutions to create value for their consumers. It includes case studies detailing
different approaches to the online account aggregation process at myciti.com and AMP
(Australia) and reviews of eight vendors in this space.
The full report is available at
www.meridien-research.com or call
(617)796-2800.
