Online PFM Solutions: Proliferation to Fallout

Analyst: Bill Bradway

March 17, 2009

At least ten online personal financial management (PFM) alternatives have emerged in the past two years, lead by Mint.com, to take on the established desktop PC-based PFM solutions from Intuit (multiple versions of Quicken) and Microsoft (multiple versions of Money). Mint.com reached 1 million online users in March 2009, about 18 months after its launch. In addition to these companies, two established players, Intuit and Yodlee, also offer online PFM capabilities.

The application capabilities offered through these PFM websites range from budgeting or tracking expenses to a suite of financial management capabilities. Inherent with the use of these PFM websites is the need for the consumer to register bank and credit accounts, which are accessed by the PFM sponsor to collect transaction data.

• How can so many online PFM alternatives find enough consumers to make their efforts worthwhile?
• Since consumers are able to use these PFM websites for free, are there any business models that can position these online PFM sponsors to generate any revenue?
• Are the online PFM alternatives a threat to or a boost for banks and credit unions?
• How will the online PFM proliferation shake out?

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