The new solution is designed to help consumers better monitor their finances with secure, nonintrusive and proactive financial management functionality straight into their online banking sites. It also enables banks to significantly enhance their existing online services with no disruption. The solution is easily implemented into their infrastructure and will improve their customer insights and open up new revenue streams.

Across channels, consumers often receive little assistance from their banks in their daily money management activities. Online banking is an ideal medium to deliver customised financial advisory over and above traditional capabilities like the basic display of transaction details, fund transfers and bill payments. Moneythor has built software components to add that functionality via an extra layer of value-add information into existing online services.

The focus on increasing customer satisfaction, enhancing the online and digital experience, and revenues have become the most important objectives impacting banks' IT investment strategy in 2013, as reported by global analyst firm Ovum.* In order to support these and in conjunction with its consumer functionality, Moneythor has also developed features for banks to better understand their customers and to deliver an enhanced service offering as well as targeted marketing activities.

"We have set a mission for ourselves to make online financial services more relevant, more personal and to wipe out the myth that you cannot get great financial advice when you visit your banker," comments Olivier Berthier, CEO and founder of Moneythor. "We are delighted to present at Echelon our initial solution in the journey to fulfill that mission."

The consumer service is currently live in beta for customers of banks in Singapore. Roll-out to other countries in the South-East Asia region as well as availability of additional components built for financial institutions is planned for later in the year.