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FinTech Pulse

PFM - the topic still on the tip of everyone’s tongue, but has the time come to stop talking and start doing?

Money is the big taboo, undiscussed in social circles. It is unheard of in polite culture to ask your friends what they earn, or how they manage their money, and yet it is something we all secretly wish we knew. Does our friend/colleague/neighbor have all the answers, whilst we make a hot mess of our accounts?

In fact, we often don’t even ask our banks for advice, so PFM, or Personal Finance Management seems to be the tool to put pay to all this ambiguity surrounding the issue of finances.

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Topics: Personal Financial Management (PFM), FinTech, PFM, invisible PFM

Author: Aoife Crean on Mar 16, 2017

Invisible PFM Will Transform Banking As You Know It

Personal Financial Management (PFM) has evolved greatly since its birth in the early eighties. Originally developed to bring money management into what was then a widespread technological shift to the nascent personal computer age, PFM has since become a sophisticated means of managing your money.

But in its current “visible” guise, PFM is not nearly as innovative as it can be, and it is the “invisible” idea of PFM that is set to overhaul banking as we know it.

In this article, we look at why the unseen PFM is inevitable and why it will be the driving force in transforming banking. Additionally, we look at how banks will evolve to intuitively anticipate their customers’ financial needs as well as scrutinize the major threat that all banks face if they fail to adapt.

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Topics: Personal Financial Management (PFM), FinTech, personalized banking, PFM, invisible PFM, personalized finance

Author: Victoria Yasinetskaya, Marketing Director on Feb 17, 2017

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