WorkLight Helps Retail Banks Gain Edge by Embracing Secure Web 2.0

WorkLight, the Web 2.0 for Business Specialist, announced that it will demonstrate how banks can enhance their online and mobile capabilities by enabling secure interactions using consumer Web 2.0 tools such as gadgets and widgets. Exhibiting at the annual BAI Retail Delivery Conference in Orlando (November 18-20), the company, known for enabling Facebook for secure business use, is now urging retail banks and financial services companies to embrace and use popular Web 2.0 tools as a cost-effective, highly-viral business channel.

As banks continue to look for ways to deal with the financial crisis, industry reports reveal a growing gap between consumer expectations and traditional retail banking delivery. Research recently released by industry analyst firm Celent indicates that banks ìthat can evolve their product and services offerings to be on par with and relevant to an evolving consumer population will see the greatest returnsî. (Edward Woods, Celent: ìWeb 2.0 and Retail Banking: Less Hype Equals Opportunityî, November 2008). WorkLight believes retail financial services organizations need to engage customers and do business where consumers are spending time online – namely, consumer Web 2.0 services, such as iGoogle, Facebook, iPhone and others - particularly in light of the current economic situation.

ìWe believe Web 2.0 technology is uniquely positioned to meet this need, said David Lavenda, WorkLight's Vice President of Marketing and Product Strategy. ìBy securing popular consumer services and tools, banks can deliver new products and services faster and at a lower cost, while meeting customers where they spend their time online. By leveraging existing consumer infrastructure, secured by enterprise-grade capabilities, financial institutions are able to gain more customers, drive additional transactions, and save considerable cost.î

WorkLightís flagship product for financial services, WorkLight for Retail Bankingô, is the first of its kind to offer secure, enterprise-grade banking via consumer Web 2.0 tools, such as desktop and web-based gadgets and widgets, social networks, mobile applications, RSS feeds, and more.

By embracing Web 2.0 services, financial services can enhance customer acquisition through social and viral applications, as well as generate valuable extra business through the use of personalized widgets and gadgets, and customer communities on social networks.

Visit the WorkLight Booth No. 856 at the BAI Retail Delivery Conference & Expo:
November 18-20, 2008
OrangeCountyConvention Center, Orlando, FL