Magazine article American Banker

Souped-Up Chase Site Aims for One-Stop Shoppers

Magazine article American Banker

Souped-Up Chase Site Aims for One-Stop Shoppers

Article excerpt

Chase Manhattan Corp. has upgraded its banking Web site with an eye toward becoming a consolidator of financial services from many providers.

The redesign created a more consistent look and feel throughout the site's 2,200 pages, as well as improved navigation and ways for customers to manage information. Chase's aim is "to be an aggregator" by letting customers build personalized Web pages using content provided by the bank, said James Springer, senior vice president for channel management.

He said Chase is following the model of "open finance," a term promulgated by Forrester Re-search Inc. of Cambridge, Mass., to describe a Web site's ability to combine account information and access to products of multiple providers, along with comprehensive advice.

Chase customers could gain access to their accounts and do transactions with partners of Chase that use the Interactive Financial Exchange, or IFX, protocol for secure communication, Mr. Springer said. Examples of the portal sites are Microsoft Corp.'s MoneyCentral, Intuit Inc.'s, and Yahoo Inc.'s Yahoo Finance.

The Chase site, which serves 550,000 Internet banking customers, eventually would expand "beyond banking as we know it today," Mr. Springer said. It would include all possible extensions of finance.

While Chase's new division focuses on such applications as electronic procurement, bill presentment, and secure electronic identification, consumer banking efforts, which are not housed within Chase. …

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