Financial technology blog NETBANKER reports online traffic to Personal Financial Management websites like Mint, Wesabe, and Geezeo have more than doubled over the past twelve months showing a significant increase in interest from consumers. In this challenging economy, people are much more cautious with their spending and this technology can help them better manage their finances, without the hassles and maintenance required by tools like Quicken and Money.

While all but one of the services highlighted are independent (non-bank) Internet companies, PNC Bank’s Virtual Wallet showed the most impressive adoption rate despite its short 5 months in existence. Virtual Wallet’s results suggest that PFM is a solution consumers want to see from their primary financial institution, as opposed to independent Internet startups. PFM is the latest in new online banking technologies that can help banks and credit unions gain new customers/members and increase online banking adoption.

This entry was posted on Wednesday, October 29th, 2008 at 1:25 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.