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E-Aggregation: The Present and Future of Online Financial Services in Asia-Pacific

15 Pages Posted: 6 Feb 2003  

Hiroshi Fujii

Massachusetts Institute of Technology (MIT)

Taeko Okano

Massachusetts Institute of Technology (MIT)

Stuart Madnick

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Michael Siegel

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Date Written: July 2002

Abstract

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

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

Hiroshi Fujii

Massachusetts Institute of Technology (MIT) ( email )

50 Memorial Drive
E53-416
Cambridge, MA 02142
United States
617-852-0862 (Phone)

Taeko Okano

Massachusetts Institute of Technology (MIT) ( email )

50 Memorial Drive
E53-416
Cambridge, MA 02142
United States
617-742-1858 (Phone)
617-742-1858 (Fax)

Stuart E. Madnick (Contact Author)

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

E53-321
Cambridge, MA 02142
United States
617-253-6671 (Phone)
617-253-3321 (Fax)

Michael Siegel

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

E53-323
Cambridge, MA 02142
United States
617-253-2937 (Phone)
617-258-7579 (Fax)

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