12 December 2017
visit www.avoka.com

Lloyds TSB makes PFM move

01 February 2011  |  16554 views  |  1 Lloyds web screen shot logo

Lloyds TSB has launched an online money management tool designed to help customers track spending across their current and credit card accounts.

The free Money Manager feature automatically breaks down spending into categories such as entertainment, food and travel, with the information displayed using graphs and charts.

Lloyds says it will pre-populate up to two years of spending for customers who can include as many of their accounts and cards as they want.



A survey last year from Yodlee found a strong appetite for online PFM services, with a quarter of respondents saying they would consider switching banks to get them in one place but 65% unaware that such a product even exists.

Earlier this month start-up Money Dashboard went live, offering Brits the chance to manage accounts from multiple providers in one place. However, research from the US suggests most people prefer to use PFM tools through banking sites, with security concerns trumping the advantages, such as account aggregation, offered by third party providers.

Comments: (1)

Bob Lyddon
Bob Lyddon - Lyddon Consulting Services - Thames Ditton | 02 February, 2011, 21:54

I am a Lloyds TSB customer and I use their legacy suite of PFM tools available via mobile, internet, ATM and paper: the bank statement. That tells me what I spent and what on. Amazing - you get the amount, the date and the payee all on the same page. That's got to be a winner: I could imagine that 65% of retail customers and 56% of corporate customers would consider switching banks for access to that kind of PFM tool coming through the letterbox.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

UK PFM start-up Money Dashboard goes live

UK PFM start-up Money Dashboard goes live

19 January 2011  |  11751 views  |  1 comments | 1 tweets
BMO latest to integrate PFM with online banking

BMO latest to integrate PFM with online banking

12 January 2011  |  8648 views  |  0 comments
Lloyds payment failure hits New Years Eve revellers

Lloyds payment failure hits New Years Eve revellers

06 January 2011  |  10911 views  |  0 comments
Lloyds TSB invites customers to create their own avatar

Lloyds TSB invites customers to create their own avatar

06 December 2010  |  9589 views  |  0 comments
Americans prefer to access PFM tools though bank sites - survey

Americans prefer to access PFM tools though bank sites - survey

23 August 2010  |  13209 views  |  1 comments | 1 tweets
Strong UK demand for online money management tools - Yodlee

Strong UK demand for online money management tools - Yodlee

11 August 2010  |  16137 views  |  4 comments
UK PFM start-up Kublax back from the dead

UK PFM start-up Kublax back from the dead

19 February 2010  |  5924 views  |  0 comments
Lovemoney launches UK online money management service

Lovemoney launches UK online money management service

21 January 2010  |  10098 views  |  1 comments
Customers cry foul as Nationwide withdraws OFX service

Customers cry foul as Nationwide withdraws OFX service

05 November 2009  |  8280 views  |  0 comments
Lloyds TSB launches online money management hub for students

Lloyds TSB launches online money management hub for students

21 August 2009  |  6949 views  |  0 comments
Lloyds TSB introduces mobile funds transfer

Lloyds TSB introduces mobile funds transfer

24 September 2008  |  10763 views  |  0 comments
Lloyds TSB introduces online bill payment service

Lloyds TSB introduces online bill payment service

29 November 2006  |  16699 views  |  0 comments | 1 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit http://info.nice.comvisit www.solutions.lexisnexis.comvisit www.atos.net

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11770 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8604 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7052 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6764 views comments | 19 tweets | 11 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
6596 views comments | 17 tweets | 35 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job