In the competitive world of consumer banking, financial institutions need to embrace new ways of doing business both to attract new customers and keep the ones they have. For many, Web 2.0 technologies are the answer. However, implementing these solutions introduces risk, so banks must ensure appropriate protection is in place when making the move.
Web 2.0, A Primer
While Web 2.0 is not necessarily a new term, it is nebulous and, for those considering implementing, can be difficult to understand. Technology publication house O'Reilly takes five full pages to define Web 2.0, while Wikipedia supplies the following: