Fiserv's Corillian Adds PFM
Personal financial management tools, including integrated direct bill pay, are central features of the new version of the Corillian Online banking platform from Fiserv Inc.
Customizable budgeting tools, spending overviews and widgets presenting current bills to be paid online are included, along with transactional capabilities.
The PMF functionality is designed to address what a Fiserv executive calls "a disparity" between consumers' desire to use PFM tools and their actual use.
"We found in a recent survey that about half of consumers want more proactive management tools from their financial institution but that only about 15 percent are using something within their financial institutions' online banking site," said Steve Shaw, director of strategic marketing for electronic banking services.
Keeping members at the home page also is a trait of the new service, Shaw said, noting the direct pay integration with more than 400 direct billers already in place.
"We've developed this solution to interact with consumers in unique way, with interactive tools that helps you understand what your finances are and how to do something with that information," Shaw said.
The new PFM tools will be part of a December upgrade for current licensed users and in the first half of 2011 for ASP users, Fiserv said.