ANZ MoneyManager: Roadmap for Bank-sponsored Online PFM

Analyst: Bill Bradway

December 31, 2009

Our earlier coverage of the online personal financial management (PFM) marketplace (see A & O Briefs 2009-05 and 2009-18) focused on the state of the vendors that provide either direct to consumer services or license/deliver their solutions through financial institutions. Bank-sponsored PFM initiatives have been expanding in number. Many large banks and investment managers already offer account aggregation services and some include online PFM capabilities as well.

ANZ is one of four mega banks based in Australia. Its other markets include New Zealand and about 26 countries in the Asia Pacific region. On October 15, 2008, Australia and New Zealand Banking Group (ANZ) launched ANZ MoneyManager in beta. In February 2009, the beta was rolled into a production status. This case study of ANZ MoneyManager provides a road map and business case analysis for financial institutions that decide to offer an online PFM capability. Several relevant questions should be explored by institutions as they consider the value of offering online PFM capabilities.

• Are the online PFM alternatives a threat to or a growth opportunity for banks and credit unions?
• Since consumers are able to use PFM websites for free, what business model(s) add(s) value for institutions?
• How should banks and credit unions proceed with PFM alternatives?

Read more to find out how to receive access to this and other A & O Briefs.

Bradway Research permits the purchase of an individual Analysis & Opinion Brief for internal use by the purchasing party. We use PayPal to complete all online purchase transactions. Plese click on the "Buy Now" button to use PayPal's credit card transaction service. Once the transaction has been completed and notice is received from PayPal, you will receive the A & O Brief by email. Please contact us at info@bradwayresearch.com if you have additional inquiries.