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.