MyVest Provides Customer-Centric Technology For TIAA And Personal Capital
The growing complexity of wealth management requires better #technology, says Anton Honikman, the CEO of #MyVest.
Financial Technology
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Fintech — The Personal Stories Of The Money Hackers Who Have Changed Finance
Dan Simon has written a book about the people who created the #technology firms that have been changing #finance, such as Venmo and Braintree, Credit Karma, Lending Club, Kabbage, Yodlee, Clarity #Money and Betterment.
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Banks Get Personal With Digital Customer Info
#Banks have pushed customers to online and #digital channels and now realize it takes some special skills to build relationships with them. Junk mail just isn’t enough.
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More Banks Are Allowing Customers to Open Personal, Wealth Accounts on Mobile
#More and more consumers are turning to #mobile, which is why #banks are hurrying to make mobile account opening the norm for their financial #customers, according to a study released yesterday by #technology provider Avoka. Mobile account opening is available for around 40% of banking product types in North America and Europe, Avoka’s State of […]
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Top U.S. Banks Are Investing Most in Personal Finance Fintechs
For all buzz around #cryptocurrency and #blockchain #technology, surprisingly, the top U.S. #banks have not been #investing as much in these areas as much as one might have thought. The top areas of interest for the major U.S. banks when it comes to #fintech investment is #personal #finance, according to a report by CB Insights. […]
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Millennials Ready To Share Personal Info With Banks For Smart Advice
Millennials are #ready to #share extensive data with #banks, but most banks aren’t prepared to use it.
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Top 4 Fintech Funding Rounds: Hopper, Memebox, Personal Capital, NoBroker
With the holiday season in full swing it seems #fintech investors are spreading the cheer. From fare-predicting apps to e-commerce to real estate, fintech had a good week. Below are our top fintech #funding #rounds of the week: #Hopper Montréal-based airfare predicting app Hopper just raised $ 62.2 million in aRead More
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Startup Of The Month: Contovista, A Personal Finance Banking Software Company
Founded in 2013, #Contovista is a Zurich-based #company providing #banks with #personal financial management solutions that leverage big data, business intelligence and data visualization. (Finanzprodukt.ch was one of the first page who reported about this company in April 2013)
Contovista‘s portfolio includes a complete Personal #Finance Management (PFM) solution, a Finance Management solution for SMEs as well as Portfolio Analytics solution.
Its PFM solution uses advanced account statement visualizations that make it easy for online #banking customers to understand the dynamics of the account. Transactions are aggregated by category, tag or any other available dimension, enabling customers to analyze their spending habits easily and in real-time.
The company’s Analytics Engine translates unstructured financial data into structured data enriched with meta-information. This data forms the basis for the company&8217;s products in PFM, Business Analytics and marketing, and can further be leveraged to build custom applications.
Contovista&8217;s #software adds semantics to account statements by automatically categorizing transactions which can be enriched with custom tags, comments or documents.
Contovista Banking Experience from Contovista on Vimeo.
Contovista&8217;s solutions have already been integrated into Zürcher Kantonalbank. More integrations are expected to take place this year, according to a press release.
In March, Contovista raised funding from the Aduno Group, a Swiss specialist in cashless payments, which now holds a 14% participation in the #startup. The new capital was aimed at helping Contovista accelerate its growth and promote the company on the national and international levels.
For the Aduno Group, the deal enabled the firm to offer a full-featured PFM and innovative data analytics solutions to its customers and partner banks.
“Digitization affects all business segments and is gaining importance in the financial sector. This requires strong partnerships with #fintech companies such as Contovista,” said Martin Huldi, CEO of the Aduno Group.
&8220;Our customers want individual solutions that are user-friendly. With the personal financial assistant we can meet their requirements and enable our customers an attractive 360° view of their financial transactions. We are delighted about this strategic partnership and we are able to offer our partner banks a service which allows to benefit quickly and cost-effectively from these new technologies.&8221;
Qontis is another Swiss online PFM platform provider. The solution offers an overview of users&8217; personal finance details and includes a number of features including budgeting tools that can analyze a user&8217;s transaction history, cost optimization suggestions and capital accumulation support.
In August 2015, Qontis announced a partnership with St. Galler Kantonalbank to integrate the startup&8217;s PFM tool into the bank&8217;s e-banking platform. Qontis&8217;s PFM solution is based on Meniga&8216;s software, which has been providing over 20 banks with more than 35 million customers its PFM platform since 2009.
Meniga is the European market leader of white-label PFM and next-generation online banking solutions. Last year, the company signed a global contract to deploy its PFM solution across Santander Group markets.
Featured image by Pressmaster, via Shutterstock.com.
The post Startup Of The Month: Contovista, A Personal Finance Banking Software Company appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
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Goldman Sachs Launches New Online Personal Loan Platform
The Goldman Sachs introduced Marcus by Goldman Sachs, an #online #platform offering unsecured #personal loans to consumers.
Named after Marcus #Goldman, one of the firm’s founders, Marcus by Goldman #Sachs is a new business that benefits from the firm’s 147-year history of financial expertise, risk management and customer service. Marcus provides consumers with a transparent and simple approach to consolidate their high-interest credit card debt. At Marcus.com, credit-worthy borrowers can apply for fixed-rate, no-fee personal loans of up to $ 30,000 for periods of two to six years.
“For many who manage debt payments on high-interest rate credit cards, a straight-forward personal #loan is a better solution,” said Harit Talwar, head of Marcus by Goldman Sachs. “Marcus offers an option for consumers who are searching for a simpler alternative to credit card borrowing, where rates can change and multiple fees can be charged.”
The Marcus team listened to thousands of consumers share their experiences managing personal debt. This feedback was central to the design of the Marcus personal loan product and the customer experience. We heard that:
-Consumers are tired of hidden fees. Marcus has no fees.
-Consumers are stressed by unexpected changes in interest rates on credit cards. Marcus offers fixed rates throughout the term of the loan.
-Consumers are disgruntled by pre-assigned payment dates and limited payment options. Marcus enables customers to choose their monthly payment date and a payment option designed to fit their budget.
-Consumers are frustrated with automated machines instead of being able to speak to someone directly when they need assistance. Marcus has U.S.-based, dedicated loan specialists who deliver live, personalized support.
Initially, applications on Marcus.com will require a code that millions of prospective customers will receive by mail. The feedback we expect to hear from the initial group of customers will help us to refine the Marcus experience. In the coming months, Marcus will offer our personal loan product to a broader audience.
Featured Image is from goldmansachs.com
The post Goldman Sachs Launches New Online Personal Loan Platform appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
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Enriched Data Leads to a Better Breed of Personal Financial Management Tools
Context is king in #financial services today. The rich #data delivered around transactions, particularly from mobile devices, is fueling the growth of a new #breed of #personal financial #management. On Tuesday, data aggregation and analytics platform Yodlee, an Envestnet company, made a further advancement in delivering contextual information to customers while protectingRead More
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