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.