Generally, the biggest rewards come to those who take the boldest risks. In the current environment, it may seem risky to embark on new online banking initiatives. But this is exactly the time your efforts can produce the highest rewards. For example, advertising impressions are more affordable, programming talent is available in most markets, and there is far, far less noise online to compete with. In fact, with so many dot-coms biting the dust, users are more likely to spend some of their online time at their bank.
 

To help you plan the activities that are best for your financial institution we have developed the following Online Strategy Matrix. It is divided into three parts: product strategies, brand strategies, and customer service strategies. In the first column you’ll find the features and tactics that are currently state-of-the-art. Offer all these and you’ll be the best out there. But if you’d like to go a step further and differentiate your services from hundreds or thousands of others, column 2 and 3 provide ideas for features that are not widely available today. Column 2 contains our “best bets” for creating meaningful differentiation.