E-glossary

New business models for Internet-driven financial services companies

Click and Mortar

Provides on-line banking services for existing client base as a value-add and to increase usage of lower-cost self-service channel.

Virtual Banking (pure play)

Customer access is fully restricted to Internet channel. Back-end processing as automated as technology and regulation allow.

Product Aggregator

Plays the traditional role of the broker with a superior value proposition for the consumer with tools and opportunity to find better pricing.

Demand Aggregator

Assembles individual buyers to capture group discounts. Site pools buyers together and facilitates a group purchase so that the more they buy, the lower the price.

Event Aggregator

A network of interlinked Web sites that enables the completion of a task — is the purview of function-specific destinations, such as eloan.com (for mortgages), CFN.com (for consumer finance offers), or WebMD.com (for doctors, insurers, and patients).

Auction

Allows the customer to buy product at dynamic prices.

Reverse Auction

Allows the customer to state how much they are willing to spend and the manufacturer bids/accepts the customers’ business.

Non-Financial Institution White Label On-line Banking

Non-financial institution provides on-line banking for its customers as an extension of its services.

Syndication/Portal Alliance

Repackages selected content, tools, and applications from the primary banking site and creates a bundle for other sites such as CANOE.

Niche Banking/Vortal

Provides on-line banking functionality, content, and tools relevant to a specific target group such as women or small business.

Source: KellyPeters.com

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now