ASEBA PFM is an advanced online Personal Finance Management (PFM) solution that enables bank’s online banking clients to manage their finances:
- By keeping tracking of and analysing incomes,
- Through automatic categorization of all transactions,
- By making plans about spending and incomes,
- Through receiving financial help and recommendations.
The solution’s basic function is to gather information about a bank’s clients and present personalized offers and messages based on collected data. ASEBA PFM also has a strong selling function because part of the solution is intended for evaluation of client’s payment capabilities and offering of products and services which are compatible with what he or she prefers.
ASEBA PFM is an innovation in retail financial services and an important part of next generation online banking services, featuring:
- Intuitive user interface
- Simple integration with bank’s IT environment
- Simple integration with Mobile Channels
- Encouraging use of Internet and mobile banking
- Gathering information about client and competitors
- Increasing loyalty of existing and acquiring of new clients
Key Product Benefits
- Entering, overviews and categorization of all transactions (incomes, spending, investments), from and outside the bank;
- Analysis of incomes, spending and investments according to categories;
- Information about assets and related credits, and planned investments;
- Self-defining of categories and subcategories for incomes, spending and assets;
- Creation of customisable automatic notifications and reminders
- Spending and income plans creation and monitoring
- Calendar of future incomes and spending;
- Overviews by categories and through defined periods of time;
- Support for mobile devices/mobile internet;
- Creation of user reports;
- Multilanguage support;
- Multicurrency support.
- Loyalty and stronger relationships with clients – instead of being just a financial products and services provider, bank is becoming client’s lifetime partner that helps her/him in all aspects of financial life.
- Gathering valuable information about competitors – by enabling clients to aggregate all data about their finances, including those that are related to other institutions, bank is able to collect information about their competitors, which are usually not that easily accessible.
- Encouraging use of online banking – range of attractive features for handling personal finances and different user experience can persuade clients to use online channel more often or to start using it, if they didn’t use it before.
- Capitalizing cross-selling opportunities – researches show, that PFM can double the time that clients spend on online banking sites, what gives an opportunity to the bank to present and offer targeted products and services to particular client.
- Attraction of new customers – researches show that PFMs are especially interested to young customers and to people who have accounts in more than one financial institution; since clients want less complexity with their finances, attractive features and totally new experience can make them become loyal clients.
- Finance information aggregation – solution enables aggregation of complete financial data, banking and non-banking, in one place, giving complete overview over client’s finances.
- Intuitive user interface – personal finances can be presented through different reports, charts and other overviews, all adjusted to bank’s corporate branding.
- Categorization and analysis – all transactions are automatically categorized with high accuracy, enabling detailed analysis off all spending and incomes.
- Budgeting and notifications – budgeting tools, combined with notifications, bring automatic projections based on historical data, but also enable modifying in accordance with real figures.
- Financial help and recommendations – ASEBA PFM offers guidelines and recommendations targeted to each particular client.
- J2ME, iPhone, Android, Blackberry – access to ASEBA PFM is available at anytime and from anyplace through different mobile browsers and clients.
ASEBA PFM can be integrated in bank’s business and IT environment, especially with existing CRM (Customer Relationship Management) solution and online banking site, what enables better control over the application performance from the side of bank’s IT department.
Some technical advantages of ASEBA PFM solution are:
- Flexible application integration
- Scalable and robust architecture designed for management of high volume data
- High level of security based on strong authentication and communication through secure channels
- Extendable and modular design (fast development of new functionalities)
- Rich-featured administration
- Multilanguage support, multicurrency support