15 Pages Posted: 6 Feb 2003
Date Written: July 2002
Many financial institutions have built websites to inform and attract customers. Financial aggregation present an opportunity by which they can build stronger relationships with customers. For example, financial account aggregation services began in the United States but are now widely used by in other countries. In this paper, we first classify aggregator types and their method for implementing their service. Second, we explain the differences between financial account relationship aggregation services in the U.S. and in Asia-Pacific countries. We then discuss the status of financial comparison aggregation services and related issues. Owing to the popularity of WAP phones and mobile phone service in Asia-Pacific, we will also look into the development of mobile aggregation services. Finally, we examine future directions for aggregators in conjunction with universal and global banking concepts.
Keywords: Financial Institution, Aggregation Service, Universal Banking, Global Banking
Suggested Citation: Suggested Citation
Fujii, Hiroshi and Okano, Taeko and Madnick, Stuart and Siegel, Michael, E-Aggregation: The Present and Future of Online Financial Services in Asia-Pacific (July 2002). MIT Sloan Working Paper No. 4405-02; CISL Working Paper No. 2002-06. Available at SSRN: https://ssrn.com/abstract=376864 or http://dx.doi.org/10.2139/ssrn.376864