More on banking 2.0 (PLEASE READ BNZ!)

So… I’m a customer of the BNZ, have been for 30 odd years now. I run about 8 different bank accounts through them as well as credit cards and seven figures worth of borrowing – I guess that makes me a moderately involved customer so here’s some feedback.

I’m a connected sort of a chat and do almost all of my banking online – so far so good. Unfortunately I have three different logon username/password combinations for internet banking for the different account groups. Ad to this that some of the logins utilise a netguard card (a plastic card with a matrix of figures that internet banking generates random combinations of for login) while some of the logins require the netguard token (an electronic random string generator) and you’ve got for some confusion. The reason for so many logins? Logically different people have access to different account groups and I need to control who sees what – the only way is through separate internet banking accounts.

So here’s an idea… single sign on. I have one internet banking login which gives me access to every single account that I am authorised to see (regardless of which entity the account belongs to). As admin I can then authorise others to see different accounts also (which then appear on their single sign on along with the accounts which they have access to). This one login would only require one security authentication method and, given that it would be the only login required, would be more likely to be palatable to customers.

Once that’s in place the next logical step is to have cross banking organisation single sign on (and this is something that, in time, the killer platform players will work out), so that my single sign on accesses all bank accounts that I am authorised to see – regardless of which institution they are set up with.

Now that’s 2.0!