"Virtual Wallet" Aims to Attract Generation Y Users
Posted by admin in Banking
3Dec
There was a fascinating story in BusinessWeek late last month about Virtual Wallet – an online banking tool aimed at Gen Yers by Pittsburgh-based PNC Financial Services.
The new service isn't very attractive, from a purely monetary point of view. But it's drawing in about 130 new users a day (4,000 a month or 47,000 a year) because of usability features designed to attract digital natives.
Customers can drag money from account to account on one screen. Instead of a traditional ledger, they view balances on a calendar that displays estimated future cash flow based on when customers are paid, when they pay bills, and on their spending habits. Customers also can set various saving rules with a feature called "Savings Engine," which transfers money to savings when they receive a paycheck, say.
So far PNC has over 20,000 Virtual Wallet customers. They maintain higher than average balances. They're cheaper to service. And 70% of them are Gen Yers…
Photo courtesy of iStockphoto, Image# 5222020
You can leave a response, or trackback from your own site.
Michele Hanson-O’Reggio( Business Development Specialist) will come under the spotlight at a conference on Thursday, December 11, 2008 @ 2-3pm EST at canada
Contact:
Biz Success Partner
Toll-free: 1-866-851-8625
317-4001 Bayview Avenue
North York, Ontario
M2M 3Z7, Canada
I just discovered your blog today and I really like it. I have a brand new online budget keeping system. If you want to check out my website, it’s http://www.simplymybudget.com
Wow! what a great idea. I am very busy and I hate doing banking and paying bills. A small fee will be OK if it makes my life easier.
Thanks for your post.