Online Safe Deposit Box
|New York, NY, USA July 24, 2001
: Web Storage Services in Retail Banking
Celent expects the to become a standard part of online banking offerings by 2005
In a new report entitled " : Web Storage Services in Retail Banking" Celent Communications analyzes the initiatives of US financial institutions and defines the future stakes.
As they become increasingly dependent on electronic content, consumers and small businesses are looking for a long-term way to store their sensitive data safely. Banks, as highly trusted parties, are well-positioned to cater to the online secured data repository demand for personal, legal and financial documents.
"With the spread of e-signature and electronic document delivery applications, banks will recognize the online safe deposit service as a key component of their strategy," comments Gwenn B騷ard, author of the report.
The report demonstrates that the es have not been that successful to date because of slower than expected e-signature penetration and flawed marketing approaches. For instance, while trying to compete with web storage specialists for storage of non-sensitive documents, some banks have failed to price their services appropriately.
The report encourages banks to implement safe deposit boxes primarily as part of their document delivery initiatives in the short term. In the mid- to long-term, with the development of e-signature, Celent predicts account aggregators will integrate the service under the banks' brands while Microsoft will stand as the main competitor with the Xbox.
A Table of Contents is available online.
of Celent Communication's research services can download the report electronically by clicking on the icon to the left.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].
Tel: +1 212 345 1366
Tel: +44 (0)782 448 3336
Tel.: +81 3 3500 3023
Table of Contents
|Boston, MA, USA July 24, 2001
Return to report abstract