Has your banking organization conducted its annual review of its electronic banking agreements? If you haven’t, your organization may want to consider whether revisions are required to your bank’s deposit agreements, online banking agreements and other electronic banking services agreements in light of increased activity from financial aggregator websites.

What are financial aggregators? -

If you are a bank and you offer online banking, chances are that your site is being accessed by increasingly popular financial aggregators. Products like Mint (owned by Intuit), Banktivity (linked with Apple’s OS X operating system) or MoneyDance are free services that offer customers the opportunity to have all of their financial information, ranging from checking accounts and student loan balances to mortgage payments and investment ledgers, all compiled in one easy-to-read display; available anytime, anywhere.