WSJ Survey of Online Banking
Jane Kim reports that usage is up, "Close to 40% of U.S. households do some banking online, more than double the rate in 2000, according to Celent LLC, a research and consulting firm." Banks are beginning to think like users rather than technologists -- Wells Fargo lets you set up accounts to save for specific objectives, she reports. My own favorite example is Bank of America's plan to round up the amount on any debit spending and put it in your savings account, with some token additional payment from the bank. When I saw early editions of Money it looked as if the world's dullest accounts had met the geekiest programmers and devised a program that assumed people handle their money rationally and have nothing better to do that enter all their spending and budget planning in minute detail. It's taken a few years, but online finance is showing signs of life.
www.wsj.com
