Xero have decided to enter the personal financial package market. In this regard they are challenging some very big players such as Intuit with Quicken. It will be very interesting to see how they fare and the reaction of competitors. Can they craft a compelling proposition? Will people accept having their personal finance data on line?
On the information at the link the tie-in for information import with just one partner in NZ may render the proposition less appealing in NZ, but maybe in other markets they will offer the facility with multiple partners?
If they make inroads will they be bought out? Is that the plan?
Disclaimer:- I have no connection with Xero, nor any investment therein. I am not making any investment recommendation, nor providing any other form of advice, merely passing comment on a news item.