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An article relating to this blog post on Finextra:

Facebook users want Web 2.0 banking

New research has found that around half of Facebook users would use Web 2.0 applications for online banking, while a quarter would even consider switching banks to obtain Web 2.0 services.

See article

Am I missing something?

At the moment if I'm on Facebook and want to check my bank balance I have to click on one of my bookmarks and log in to Smile. That doesn't strike me as too much of a hardship. There is no way I'd trust some sort of banking widget in Facebook, although when you get past the ghastly marketing speak, Worklight's stuff looks quite interesting.

Comments: (3)

A Finextra member
A Finextra member 04 June, 2008, 16:56Be the first to give this comment the thumbs up 0 likes

I'm with you there, I might not trust the bank with digital money but I sure as hell wouldn't trust my moolah to facebook. Maybe facebook are hoping a bank will buy them or a supply a new round of funding. Are they making money? Facebook is getting a bit boring though and who has the time for it? I just don't have time for free beer widgets, see me at the pub instead for a real one. Sort of like cyber love compared to the physical thing. Boring and only for those without a plot.

The worklight thing has potential.

At the moment I'm a bit keen on an ever growing mobile transaction plot with a Prosper type, but real time credit engine for consumer to consumer lending even at the merchant point of sale.

A way to earn money on your stored value. Even invest all your cash and use the loans as collateral (at a lower rate because of lower risk) when you need cash. Everybody will be able to play, banks and governments too, but most importantly you.

Disruptive? Hey Hey...

A Finextra member
A Finextra member 05 June, 2008, 09:05Be the first to give this comment the thumbs up 0 likes Given the price of bank shares at the moment, isn't more likely that Facebook will buy a bank? ? ?
Paul Penrose
Paul Penrose - Finextra - London 05 June, 2008, 09:39Be the first to give this comment the thumbs up 0 likes Why bother with an old-school bank when you have a new generation of clued-up Web 2.0 start-ups like Wesabe and Mint to cherry pick.

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