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Bank Transaction Alerts & Streaming New delivery technologies will change the way users receive and interact with their banking information
Author
Jim Bruene
Published
Jul. 4, 2010; OBR 181/182
Pages
72
Format
PDF, printed, Word
Size
6.1MB
Table of Contents
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Abstract: In this report, we look closely at how best to transmit transaction data to online/mobile customers.
In a world where most users are receiving real-time status updates from friends, co-workers and companies via Facebook, Twitter and other services, financial institutions should look closely at the way they deliver both routine and urgent banking transaction detail.
While we believe there are great opportunities to innovate around transaction feeds, the most important info delivery mechanism remains the email alert. So we outline a 22-point program for bringing triggered alerts up to the state-of-the-art. And we analyze 16 alerts from 13 financial institutions against that criteria.
Finally, we compare and contrast the two new ecommerce/bankcard transaction streaming/sharing services: Blippy and Swipely. And we take a brief look at the newest entrant, Seattle-based Strings.
Companies mentioned: American Express, Bank of America, Britton & Koontz Bank, Chase Bank, Citibank, Facebook, ING Direct, Lending Club, Mint.com (Intuit), PayPal, PNC Bank, Prosper, Schwab, Signet Bank, Strings, Swipely, Twitter, US Bank, Vantage Federal Credit Union, Wells Fargo
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