E-Commerce: All about Value

Personalization: A significant advantage of electronic commerce is mass customization to suit individual needs and preferences. This is made possible by technologies such as collaborative filtering (a form of artificial intelligence based on pattern recognition), cookies created by Java or JavaScript, or even some general-purpose software.

Like retailing, the financial services industry is also embracing personalization. At the Bank of America, you can build your own bank and then receive special offers and news tailored to your preferences. And, Next Card will let you design your credit card online and even put your picture on it.

Entertainment: Financial institutions are also engaging our emotions and loyalty by entertaining us online. Sweepstakes and contests are offered at City Bank. And, we all have a chance to win $10,000 if we use our Access Card at the online Toronto Dominion Bank to buy a financial product or renew an existing security.

All in all, the financial services industry is undergoing a quiet revolution.

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