Monday, 14 September 2009

Personal finance intelligence is big business. Mint.com sold for $170!

TechCrunch have announced that Intuit will acquire Mint for $170 million.  Mint.com launched 2 years ago and provides a free online service which aggregates your bank account information into one more manageable interface.   Mint earns commission based on recommending financial services products to it's users that can offer genuine savings to them.  Because Mint are independent of these suppliers and have access to your entire financial portfolio they are able to analyse your expenditure and offer cutting edge ways to manage your money, track expenditure and save better. 

Their huge growth in users might have been helped by the global economic downturn but we think that this growth will continue as more personalised finance services become available to consumer and business alike.   Gone is the day when it was impractical and too time consuming to hold bank accounts with different institutions.   Mint.com solve that problem. Mint enables users to access multiple accounts via one online interface, with just one password.  It collates all of the account information in a meaningful way, drawing important conclusions such as 'can i afford to buy that new car?'.    Mint.com educates consumers by analysing their financial portfolio and offering appropriate savings products.  They give you choices. Intelligent, worthwhile, independent choices.   

90% foreign currency exchange in the UK moves through the main banking institutions.  Why is this?  Perhaps because there hasn't always been a choice. Or if their has been a choice it was too much effort or  too time consuming  to be worthwhile.  The sale of Mint.com proves that individuals and small business are looking again at how they bank and questioning how things have always been done.  Here at PeepEx we wan't to give people and business's a choice, to empower them with the information they need to make the most intelligent and profitable choice at that.   We're not going to change the world, but we can offer people choice and real world savings on their currency exchange. 

6 comments:

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