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Say…why let banking online get lonesome…

Someone called a bank the other day and asked “I was wondering if you offer online banking…”Reply from the bank’s front-office was a polite “Of course ma’am. You can certainly use our online services. Just sign up for online banking with us.“ “But where does the money come out?” insisted the caller. “I’m not sure I understand” said the puzzled banker. “You know…” the caller asked “Does the money come out from that slot in my computer?”

Not sure how the banker handled that one, but I know this fact is here to stay: Customer expectations from Internet banking have certainly changed. He won’t walk the one way street of e-banking, much longer, content with just making balance enquiries or fund transfers. He yearns for the comfort of branch-like two way interactions, online too.

Here’s where I see a clear opportunity for banks to transform today’s passive Internet banking into one that provides a more widespread and interactive experience. Leveraging social networks like Facebook, collaborating through Web 2.0 to take e-banking to multiple online locations, personalizing the experience, empowering informed online sales, empowering banking customers to create their own online spaces, filled with all that is relevant to them, while they also bank - are just some avenues open for those that think out-of-the-box. Needless to say, these will also be the ones laughing all the way to the bank…or more aptly getting their customers to come laughing all the way to their bank.

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