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February 11, 2013

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Tom White

I agree with your conclusion about the current limitations of PFM. This is one of the things we are working on at iQuantifi- to provide automated and personalized advice to consumers to guide them on their financial decisions. Feel free to view our software demo to see how we plan to help consumers. http://www.finovate.com/spring12vid/iquantifi.html

Fiona Brownsell

Hi Chris

Great to see your post above. You are so right. The mobile has the ability to put us all back in control of our money, just like the old days when we all used cash, all of the time, and so knew exactly where we were.

The problem is not the mobile interface, that is the easy part and there are hundreds of little and large software houses running after this market.

The problem is when they get there the actual payments data is not available in real time. This has been a topic of discussion lately at the Parliamentary Commission on Banking Standards (PCBS) and the Bank of England and the Treasury. The only way to move the needle is to move the Payments Council who are currently completely owned by the big banks with a vested interest in maintaining the status quo.

Mmmmmmm lets hope the joint voices of George Osborne and Andy Haldane are supported by the PCBS report so that finally our money is back under our own control through a mobile.

Matthias Benfey

Can these thoughts be summarized as: PFM squared helps me make in-the-moment financial decisions. Much like a car speed-o-meter helps me make in-the-moment decisions about stepping on the brakes when I see a police car up ahead, whereas the odometer is completely useless at the moment.

TimesRGud

Good stuff as usual Chris and couldnt agree with you more. You may find what I wrote sometime back interesting. https://blogs.oracle.com/financialservices/entry/personal_financial_management_the_need

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