Retail banking web sites have never been at the vanguard of usability. But online banking has become integral to their retail operations, and all banks are considering how they can optimize their web sites for maximum benefit.

Citi has recently launched the first phase of a multi-phase rollout of its new retail web site, one that it thinks is an industry breakthrough. The goal was to create a site that's simple and intuitive as well as laden with functionality. In addition to core bank features such as transfers and bill payment, it also offers "new, advanced features to help clients meet financial goals, including personal finance tools, customized charts and graphs, and the ability to analyze multiple accounts, including from third-party retailers, utilities or other financial institutions."

The new Dashboard also has been touted. All of this in plain English of course. That's the goal anyway. You have to admire some of the new functionality. For example, Citi worked with Yodlee to deliver a host of non-core services, such as account aggregation, wealth preparation and tax planning, notes BTN.

One issue is the phased rollout. We understand the benefits of a gradual approach. One downside is that it can generate an appearance of constant change, which some people find disorienting. Perhaps the key going forward will be to offer a web site that can appeal to a wide spectrum of customers, spanning teens all the way to seniors. Customization may end up be the key differentiator, as more banks upgrade their sites.

For more:
- here's the release 
- here's the BTN article

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