Banks To Apps Exodus

Note from the CEO:  So that’s where the banks went. We can’t remember the last time we were in an actual bank. Financial apps with everything at your fingertips and no waiting in lines could make a bank branch more useful as a McDonald’s location instead.  Hear that banks? Convert now. 

“Services like Facebook, LinkedIn, and Netflix have become essential to modern life as increasingly, consumers aren’t just willing to have all their data connected and aggregated online—they expect it.

‘And financial services is the same category,’ says Jim Del Favero, chief product officer at the technology-based wealth management firm Personal Capital….

Over 1 million users are tracking about 250 billion dollars on the Personal Capital platform, Del Favero says, and more than half of their usage is via mobile. It’s important to note that their customers aren’t just millennials living their lives online. They’re users in their 30s, 40s and 50s with complex lives and complicated finances, and they want more transparency—and control—over their financial lives and wealth portfolio.”

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