Over half of Brits are "highly interested" in managing their money online through a single Web site, according to a survey from Yodlee.
The US personal finance management outfit, which polled 500 people in the UK, found that over a third of respondents currently use three or more sites to look after their money. Over half of those surveyed check their online account every week or more, and do so for the convenience and control it offers them.
Most want to be able to make money management more convenient by using a single site and two thirds of these want that service provided by a trusted financial institution, like their bank.
A quarter of respondents say they would consider switching banks to get online PFM services in one place but 65% are unaware that such a product even exists. Unsurprisingly, Yodlee says this shows "a tremendous need and opportunity for online personal financial management services".
Jason O'Shaughnessy - who the firm appointed MD, Emea, yesterday as it seeks to expand its presence outside of the US - says: "We believe simple online tools that help consumers better manage and understand their money - anywhere, anytime, and from any computer or mobile device - are what consumers really want and need, and these survey results clearly show that. This is a time when technology should be making money management easy, intuitive, and insightful, not complicated and scary."
In the UK, Money Dashboard and Lovemoney have both recently launched, using Yodlee technology for their platform. However, not all PFM services have proved successful: Kublax - another Yodlee customer - folded in February after running out of cash while US pioneer Wesabe, which operated in the UK through a partnership with the Daily Telegraph, has also gone to the wall.