Bigmouthmedia Finance Summit Warns That Change To Online Sales Is Urgently Needed
on: May 14, 2010, 10:38 am
The founder and CEO of Money Dashboard is set to tell the
bigmouthmedia Finance Summit that his sector urgently needs to address
the way financial products are sold online.
According to Gavin Littlejohn, who launched the open beta phase of the company's
new offering at TechCrunch Edinburgh event this week, there is a widening gulf
between the FSA's requirements for providing consumers with straightforward
information and the financial sector's ability to provide it. He will tell an
audience of finance sector executives at the 2nd annual bigmouthmedia Finance Summit
"In many ways the financial industry has been left trailing in the digital
revolution's wake. Despite the fact that online should be a channel ideally suited
to selling products based on hard facts and reliable data, we have yet to see the
sector develop a consistent, credible approach to selling financial services," said
"Set against a background where regulators have consistently pushed providers
towards more professional practices, this situation is simply untenable."
Money Dashboard's personal finance software links consumers with their online banks
and credit cards, showing all of their spending in one place, helping them
understand where their money is going and making it much easier to manage their
finances. Speaking in the wake of to the service's open beta launch, Littlejohn
will discuss the ethical, legal and practical issues arising from the move online in
a session entitled "Moving from Face-to-face to Online Distribution".
He will be joined by a panel of industry-leading online finance experts speaking on
a range of themes including the development and history of online financial
marketing and the issues surrounding best-practice in selling savings products via
digital channels. Taking the podium at the bigmouthmedia Financial Summit will
be Thisismoney.co.uk editor Andrew Oxlade and Colin Tomkinson, head of digital
marketing at Barclaycard. Google senior head of Financial Services Ian Morgan will
also lead a session.
Continuing the compliance theme, bigmouthmedia senior finance strategist Chris
Cathcart will also unveil the findings of the
company's latest survey into buying financial services online.
"Despite the degree to which the digital channel has impacted upon every business
sector, the world of finance has been lamentably slow in coming to terms with the
online marketplace," said Cathcart.
The bigmouthmedia Finance Summit takes place in London on May 26th and is a free
event aimed at senior marketing and ecommerce executives. Places are limited, but
those wishing to attend the bigmouthmedia event can register online for an invitation.
Founded in 1997, bigmouthmedia is Europe's largest independent digital marketing
agency. With a team of over 200 staff located across 13 offices in 10 countries on 3
continents, the company maximises exposure for major brands online through a variety
of fully integrated digital marketing channels: search engine optimisation, PPC,
online media planning, affiliate marketing, social
networking, brand monitoring, online PR and web analytics. Bigmouthmedia also
provides up to date daily digital marketing news to ensure clients
are fully informed and aware of all industry developments.
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