Fiserv Archives - Page 35 of 35

Rate Surfer and MyMoney to Demo at Finovate 2008

By Jim Bruene Posted on September 16, 2008
Categories: Facebook, Finovate, Fiserv, Rate Surfer

Finovate takes place four weeks from today (Oct. 14), and we’ve already surpassed last year’s attendee total. Luckily, we booked a bigger space, so there will be more bankers and tech execs to network with and everyone in the audience will have a seat at a table to park that laptop, Blackberry, iPhone, or whatever.

But the space isn’t unlimited and if we continue the sign-up pace of the past few weeks we’ll sell out well before Oct. 14. So, don’t wait too long, register here (see note 1).

When we announced the Finovate lineup, there were three companies that chose to remain secret. Two of those are now being named (note 2):

Rate Surfer which participated in the TechCrunch50 DemoPit last week (post here)
MyMoney from Fiserv’s Galaxy unit, a Facebook application that allows users to check their bank balance and transactions from within their Facebook account (post here)

Note:
1. Clients with annual subscriptions to our All-Access Online Banking Report are eligible for a conference discount; email info@netbanker.com for your client discount code.

2. The 24th company is in stealth mode and will be revealed on or very near the conference on Oct. 14.

Facebook Financial & Banking Apps Have Only 263 Daily Users

By Jim Bruene Posted on March 14, 2008
Categories: Facebook, Fiserv, Metrics & Market Research, mShift

It's been a while since we looked at the actual usage of payment, personal finance, lending, and banking apps on Facebook (previous coverage here; see note 1). And assuming the numbers provided by Facebook are accurate, it's not good news.

Overall, the banking and personal finance apps have anemic usage levels totaling just 263 daily users (for apps with more than 1 daily user). That does not include virtual currencies or stock tracking/investing applications (see note 2). In comparison, the most popular general Facebook app, FunWall, has more than 3 million daily users.

But the number will grow rapidly if major financial institutions add balance inquiry functionality such as (#4) MyMoney from Fiserv's Galaxy unit (previous coverage here) and mShift's Key Point Credit Union app discussed here (only 1 daily user, so it did not make our table). Activity in Facebook personal finance apps yesterday (13 March 2008):

Name (parent)	Daily Users
1. PayPal (eBay)	80
2. Billmonk (Obopay)	55
3. LendingClub*	26
4. MyMoney (Fiserv)	17
5. PayMe	14
6. Debt Manager	10
7. Prosper	7
8. FriendFunds	7
9. UPside Visa Card Balance Reader	6
10. Web Money	6
11. Buxfer	5
12. IOU (Sanjay Madan)	5
13. Split It (TD Bank)	4
14. MoneyExchange (Revolution Money)	4
15. IOU (Jonas Neubert)	3
16. Mortgage Calculator	3
17. BillTrack	3
18. Insurance Marketplace	2
19. Wesabe	2
20. FB E-Wallet	2
21. Intuit Tax Tips	2
TOTAL	263**

*See comment 1

**Does not include apps with less than 2 users

Notes:

1. You cannot make a meaningful comparison with last summer's activity because Facebook changed the way it reports usage. Previously, the company reported the number of application downloads and now it shows the much, much smaller "active daily user" total. For example, in July 2007, LendingClub had already had more than 11,000 downloads. Under the new measurement system it tallies just 26 daily users which puts it in third place (see table below).

2. The leading stock tracking app, Fantasy Stock Exchange, has 7,990 daily users. The most popular virtual currency AceBucks has 11,300 daily users.

Banking in Facebook with MyMoney from Fiserv Galaxy

By Jim Bruene Posted on February 8, 2008
Categories: Facebook, Fiserv

Fiserv's Galaxy unit has created an online banking module for Facebook called MyMoney. I haven't been briefed on it yet, but Galaxy will be hosting a webinar on Tues, Feb 12 and Wed, Feb 13 (register here), if you want a closer look.

According to the company, MyMoney offers full-service transactional online banking:

…members can conveniently view account balances, review history, transfer money between accounts, and much, much more.

Galaxy hopes that the Facebook application leads to viral member growth for its credit union clients:

When a member adds MyMoney™ to their Facebook page, their friends will be notified and given the opportunity to also join your credit union right then and there, giving you yet another way to reach this growing audience.

I couldn't find any mention of the application on Facebook, so it doesn't appear that its been implemented by an credit unions yet. Who will be first? Drop a note in the comments or send me an email (jim@netbanker.com) if your company plans to deploy it.

In November, we awarded an OBR Best of the Web to a similar service from KeyPoint Credit Union powered by mShift (coverage here).

Thanks again to Jeffry Pilcher for the tip.