PFM Is Dead, Long Life PFE: The Advent of Personal Financial Experiences
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13 September 2017
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.