I got a chance to see a preview of the new BofA internet based budgeting and planning tools at the BAI conference in October. While it is not a full use of the functionality, I am very happy to see that one of the big boys is catching on and launching this functionality. It’s only a matter of time before this is a standard feature in all internet banking applications.
The next step is for banks to integrate budgeting and planning processes and educational workshops into their relationship management approach so that they can stimulate usage of the new functionality.
Then, I would love to see a bank “game-ify” the functionality so that we can finally add some fun to activities and behaviors that lead to financial discipline and health.
Nice step in the right direction for BofA…
Totally agree with you Michael. Also would be great if all banks had all types of calculators available to use by their clients, like for example in this website http://www.getsmarteraboutmoney.ca/en/tools_and_calculators/calculators/Pages/AllCalculators.aspx
By “game-ify” you meen something like http://www.smartypig.com/ ? 🙂