InformationWeek 500: Fiserv Uses New Tool To Catch New Customers
Enhanced online banking interface lets users carry out many common transactions, and lets the bank up-sell premium services.
Taking advantage of the rush to offer financial services online, Fiserv isn't just offering new applications via social networks; it's also giving banks new tools to acquire and retain customers online.
Based on technology from Corillian that Fiserv acquired when it bought CheckFree in December 2007, its Online Advantage banking and bill-payment platform will be rolled out by year's end. Essentially an enhanced online banking interface that lets users carry out a number of common transactions easily and quickly, Online Advantage will enable banks to up-sell premium services to online customers using marketing based on customers' habits, financial profiles, and needs, says Bob Homer, Fiserv's VP of product management.
Recent studies indicate that bank clients who manage money online tend to be more profitable than more traditional teller-using customers. The Online Advantage platform will let those customers perform tasks like setting up alerts for certain account thresholds, monitoring progress toward their savings goals, securely storing important financial documents, and even opening checking accounts online.
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