PFM Is Dead, Long Life PFE: The Advent of Personal Financial Experiences
A Flash Insight Report
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.