'Bankerages' a Rare Breed

摘要

New Research from Corporate Insight suggests that financial institutions are not taking full advantage of the Web to provide a com-piete range of "bankerage" services. In two new studies, Corporate insight senior analyst David Rosenberg claims that only 40 percent of the 18 brokerages that the firm monitors can be considered a full bankerage, defined as a brokerage that offers traditional banking products, including FDlC-insured savings and checking accounts, with all accounts accessible via a single Web login. Financial institutions have been allowed to combine banking and brokerage services since 1993, with the repeal of the Giass-Steagail act, paving the way for the bankerage movement. Success in this effort comes from making the online financial decision-malting experience seamiess, says Rosenberg, Among the key features offered by bankerages, he notes, is account aggregation. "You want to be able to see all of your accounts on the same screen to get a bird's eye view of your financial situation," Rosenberg says. "One reaiiy interesting feature that we think is very valuable is being able to combine your banking and brokerage accounts for overdraft protection."