Mint.com

Mint is an industry leading PFM website with about 1.7 million unique visitors last month (see our previous blog entry here). The company is also a Finovate best of show winner. (Finovate2008 video here.) Mint is owned by finance software company Intuit.

Mint is using the social networking power of Facebook to promote its services. The PFM company has a public Facebook page (see screenshot #1, below), allowing visitors to become "fans" that can follow company news and enter user discussions. Mint currently has 51,000 fans.

The page provides a free public forum where Mint can not only promote its services, but also make announcements (the page currently supports a help-wanted ad for a Systems Administrator) and encourage user interaction (Screenshot #1).

Facebook revenues are primarily derived from targeted advertising on its user's pages. By making its own services free, the company draws in participants, increasing the value of its advertisements. Facebook currently enjoys more than 130 million unique U.S. visitors per month, according to traffic data from Compete. Companies that provide free services on their own websites, such as Mint, are a natural fit for Facebook's audience.

  Mint's iPad sweepstakes capitalizes on Facebook features that share information across its social network. The promotion requires users to become fans of Mint's Facebook page in order to enter the contest. When I became a fan of Mint, everyone on my friends list was notified, complete with a link that leads directly to Mint's sweepstakes page (screenshot #2).

Mint is giving away two iPads. The contest allows entrants to name the person who referred them, with the referrer winning the second iPad. This means that the more friends you send to the promotion, the greater your chances of getting a new toy become (screenshot #3). And when your friends become Mint fans, all their friends are notified.

Mint's sweepstakes is being handled by Wildfire Promotions, which offers social media marketing campaigns based on Facebook and Twitter. Entering the sweepstakes takes the user seamlessly and almost invisibly from Facebook to a Wildfire page.

#1 Mint's Wall on Facebook

#2. The Sweepstakes Page

#3. The More Friends You Refer, the Better Your Odds (This is a Wildfire Page)

Out of 104 sites, 44 (42%) had more than 10,000 unique visitors last month (see chart #1, below). Of those, 25 (57%) had more visitors than a year ago. Overall, 51 (49%) had traffic increases, with 37 (36%) more than doubling. There were 27 (26%) company sites that gained more than 5,000 visitors over the year (chart #2).

Notable traffic increases:

• FiLife, which has been running full-page ads in its sister company, The Wall Street Journal, moved to the top of the alumni chart, with more than 2.7 million U.S. unique visitors in January, up 16-fold over a year ago.
• Mint, now owned by Intuit, saw a record number of visitors in January, nearly 1.7 million. The company does no outside advertising, so the totals are completely from word of mouth and links on other Intuit sites (see Netbanker post here).
• ThreatMetrix and Home-Account, both went from zero to nearly 200,000 unique visitors, a phenomenal amount of traffic for a financial company in their first year of operation.

1. Finovate Alumni with More than 10,000 Unique US Visitors in Jan. 2010

Source: Compete, Feb. 18, 2010

2. Finovate Alumni with Year-over-Year Growth of at Least 5,000 US Visitors

Source: Compete, February 18, 2010

Notes:

1. We reviewed 133 unique sites. Data was unavailable for 28 sites because they had been acquired, were no longer available online, or had active sites that were not covered by Compete for various reasons, including some that were not US domestic companies.

2. At larger companies we tried to measure traffic to the sub-domain most closely aligned with the Finovate demo, e.g. www.checkfree.fiserv.com.

3. Numbers have been rounded to three significant digits.

4. The charts include companies that did not have measurable traffic in January 2009, indicated by a N/A.

5. Compete draws its information from the online activity of a panel of more than 2 million US Internet users. It is only an estimate of traffic, and may undercount at-work usage.

BancVue powers high-yield checking and other products for more than 650 U.S. community financial institutions. The company debuted its Kasasa branded checking/saving accounts at FinovateFall 2009 (video here).

CentsCity presents an interactive online environment developed for children between eight and 12 years old. (See screenshot #1, below.) Players visit different locations in the game world to play mini-games using ducats, the in-game currency. The game requires players to monitor their in-game cash and expenses in order to continue participating and eventually save enough ducats to earn rewards (screenshot #2).

The game also includes an interface for parents, allowing them to insert personal incentives, such as extra TV time or an extended curfew, to encourage their children to play and learn. Skill-Life hopes to entice parents into setting up game rewards, such as savings accounts that must be unlocked in the game before the children can access the funds.

Financial companies can add their own branding into the game environment.

Skill-Life's current business model primarily depends on licensing to financial institutions and groups like school districts and community organizations. Players can also access the game at Skill-Life's website, choosing between free and a more advanced pay-version of the game, which charges a one-time fee of $4.95.

#1. CentsCity Presents a World to Explore

#2 CentsCity Players Learn to Save for Rewards

AlphaClone Introduces New "Activist Masters" Fund Group - Investment research firm AlphaClone develops "clones" - replications of the investment patterns - of top investors. The company has announced a new clone, which follows the investment performance of 15 renowned activist investors including Carl Icahn and ValueAct Holdings. http://bit.ly/cCHeAw

BancVue Acquires Game Company Skill-Life -- In its first corporate acquisition, BancVue announced on Feb. 9 the purchase of Skill-Life, a software company that develops interactive games designed to teach financial literacy to children between 8 and 12 years old. http://bit.ly/mnqr5

CashEdge Integrates Data Solutions with Neuralus -- Account aggregation service CashEdge and Neuralus, a developer of intelligent financial solutions, have agreed to integrate their technologies to offer automatic updates of banking and credit card transactions for Neuralus clients' Cashflow INSITE accounts. http://bit.ly/aFJLeX

Geezeo to Provide Online Platform to 1^st Mariner Bank -- Geezeo has been selected by 1^st Mariner Bank to provide its online consumer finance platform. Geezeo offers online banking solutions including personal finance management, account access services, and community marketing. 1^st Mariner is a Maryland bank with 24 branches and more than 14,000 ATMs. http://bit.ly/c0ZA6i

iBearSoft Delays Release of Desktop Client iPhone app -- iBearSoft has delayed the release of its previously announced Desktop Client, a support application that will allow users to more easily add data to the company's iBearMoney iPhone app. The delay will allow developers to improve the design and offer simpler functionality. http://bit.ly/aJJ7jY

Jwaala Adds Twitter and Skype Options -- Jwaala has added Twitter and Skype capabilities to its MoneyTracker BOB (Better Online Banking) platform, allowing them to be used to deliver consumer alerts. The alerts allow financial institutions to contact their clients with transaction, credit, and security information. http://bit.ly/b0umqH

Kasasa Adds Atlantic Coast Bank and Security Bank -- Two new banks have agreed to carry Kasasa brand checking account products. Atlantic Coast Bank, which operates in Georgia and Florida, will offer Kasasa Cash and Kasasa Saver accounts. Security Bank will offer all four Kasasa products in Illinois. Atlantic Coast is the first Georgia bank to offer Kasasa branded products. http://bit.ly/daQXk1

Mint.com Offers New Online IRA Center -- Online personal finance service Mint has a new IRA Center website where visitors can compare Roth and traditional IRAs and can link directly to financial institutions that offer retirement accounts. Users of TurboTax software can access the IRA Center from within the application. Mint's new IRA site is located here. http://bit.ly/9eTlD9

Monitise Americas to Launch Android App -- Monitise Americas announced plans to launch a mobile banking app developed for Android phones. The app, which will offer account management, payment, and commerce services, will be available as a free download and will be compatible with all Android phones. http://bit.ly/cCcb3I

Outright.com Adds Editing Feature to its 1099 Tax Filing Service -- Outright.com has added a new feature that allows users to edit the IRS 1099-MISC tax forms generated by its new online 1099 filing service. Users can also edit related company and contractor information. Making changes in the forms does not automatically re-file them with the IRS, but users can do so from the Outright site. http://bit.ly/cPf8i8

Prosper Receives Bridge Financing, Plans Series D Fund Raising -- Prosper has received $2 million in bridge financing from its existing investors: Accel Partners, Benchmark Capital, DAG Ventures, Meritech Capital, Omidyar Network, and Volition (formerly Fidelity Ventures). Prosper is preparing its next fund-raising effort and intends to announce its Series D round soon. http://bit.ly/beljVA

SmartyPig to Move Savings Deposits from West Bank -- SmartyPig is a technology company that mixes savings accounts with social networks, allowing users to create an e-savings account for a particular goal. The company is moving its deposits from West Bank, which stated that it would not be able to keep up investing the deposits. Deposits linked to SmartyPig grew $179 million in 2009, and totaled $187 million at the end of the year. SmartyPig expects to transition to a larger bank in 2010. http://bit.ly/9VTC9m