PFM Is Dead, Long Life PFE: The Advent of Personal Financial Experiences

A Flash Insight Report
by Daniel Latimore, June 15, 2017
Industry Trends
Global

Abstract

Celent has released a new Flash Insight report titled PFM Is Dead, Long Live PFE. The report was written by Dan Latimore, Senior Vice President of Celent’s Banking practice.

Personal financial management (PFM) has been a worthy goal pursued by many providers, yet consumers continue to ignore its possibilities. Rather than trying to incrementally expand the share of 10–12% of PFM users, banks should focus on the next stage in the evolution of personal finance: personal financial experiences, or PFE.

This Flash Insight defines PFE, summarizes its promise to banks, and shows how banks can use a PFE mindset to build stronger and more profitable customer relationships.

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 operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

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