Online banking and brokerage model changes

Around the world, it is becoming clear that the online banking and brokerage model might be in need of an interface uplift. In Australia, for example, Telestra has called for banks to upgrade their customer-facing technology to keep Gen Y customers engaged. But you could say as much for all customer demographics.

Celent has found that online brokers are starting to take advantage of Web 2.0 applications to provide enhanced services. This relates to more interactive tools, research and advice to engage the user, among other things. My sense is that the industry will get a boost once it figures out how to tap XBRL-formatted data and feed that into its new systems. We're in a sort of heady period with this stuff. Brokerages continue to invest despite the tough times economically.

For more:
- here's a brief on the Celent report

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