Finicity’s Mvelopes Introduces Budget Makeover Program

 

What’s old is new again – Mvelopes, the PFM platform from Finicity that uses a digitized version of the time-tested envelope budgeting method to help people improve their saving habits, is launching Budget Makeover. The 10-week crash course in personal finance leverages the same strategies behavior modification strategies used by health and fitness coaches to provide financial education, resources, and a financial plan. Even the length of the program is based on studies from the University of College London that indicate that 66 days is the amount of time needed to permanently develop new habits.

“The coaching aspect of the Mvelopes Budget Makever is unlike anything else offered in the personal finance space,” EVP of Consumer Services for Mvelopes Christopher Tracy said. “It’s a high-touch and highly personalized program that benefits our users with measurable, long-term financial impact.”

During the program, Budget Makeover clients will get an initial financial assessment, seven financial training sessions, daily check-in texts, bi-weekly budget reviews, and a weekly challenge from an Mvelopes-certified financial trainer. Clients will also have access to the Mvelopes app – available in iOS and Android – which provides real-time insights into their personalized budget.

“In the 17-plus years we’ve spent perfecting our budgeting products, we’ve seen that accountability is the single, most important factor in actually developing new behaviors that lead to long-lasting change,” Mvelopes director of financial training Wes Shelnutt said.

To find out more about how to become a part of the Mvelopes Budget Makever, visit www.2018Budget.com.

Created by Finicity in 1999, Mvelopes offers a trio of plans – Basic, Plus, and Complete. Each provides varying levels of service, ranging from auto transaction importing and account balancing monitoring with the Basic plan, to debt assessment and a dedicated personal coach with the Plus and Complete plans. The plans range in cost from $4 a month for Basic, to $19 a month for Plus, to $79 a month for Complete.

Finicity demonstrated its Credit Decisioning platform at FinovateSpring 2017. The solution simplifies access to its Verification of Income (VoI) and Verification of Assets (VoA) reports, making it easier for lenders to quickly verify information on borrowers. The company has also participated in our developer’s conference, discussing The Frictionless Aggregation Experience at FinDEVr New York 2017.

Based in Salt Lake City, Utah, Finicity has raised more than $50 million in funding, and includes fellow Finovate alum Experian among its investors. Steve Smith is CEO.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finicity Teams with DataVerify

Data aggregation and insights company Finicity announced it has integrated with risk mitigation firm DataVerify to offer mortgage lenders real-time borrower asset verification.

This capability will combine Finicity’s Verification of Assets (VoA) solution– part of the Utah-based company’s set of asset and income verification tools launched earlier this year– with DataVerify’s DRIVE platform that automates underwriting for lenders. DataVerify works by comparing borrower data across multiple databases to assess risk and fraud levels, identifying the legitimacy of borrowers to help lenders avoid loan quality issues.

“With real-time asset verification from Finicity, lenders that use our DRIVE platform will be able to get quick insight into a borrower’s financial information and thus make more efficient and smarter lending decisions” said Brad Bogel, ‎senior vice president at DataVerify. He continued, “The data can be accessed and verified in a matter of clicks, shortening the loan approval process for a greater overall consumer experience.”

Finicity was founded in 1999 and has since developed more than 16,000 bank integrations. The company most recently demoed its credit decisioning solution at FinovateFall 2017. Earlier this summer, Finicity signed a data exchange deal with JP Morgan Chase to allow bank partners to leverage third party financial apps without disclosing their login credentials.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall Sneak Peek: Finicity

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Finicity is a data aggregation and insights provider transforming markets through the use of consumer-permissioned data.

Features

  • Intuitive customer on-boarding
  • Improved data access and data quality
  • Simplified access to data and reports

Why it’s great
Finicity is driving the consumer data-sharing market to radically improve financial management, payment initiation, and lending experiences.

Presenters

Nick Thomas, President of Data Services
Thomas is a technologist and business builder. As co-founder of Finicity, Thomas is passionate in helping individuals and organizations gain deeper insights thru data to make smarter financial decisions.
LinkedIn

Jessie Morris, Director of Engineering
Morris is a problem solver by nature and a master software engineer and developer by trade. He plays a major role in designing and reimagining the Finicity data aggregation platform.
LinkedIn

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

Finicity Inks Data Exchange Deal with JPMorgan Chase

A new agreement between Finicity and JPMorgan Chase will give bank customers the ability to take advantage of a wide range of third-party financial apps without having to disclose their bank login credentials. APIs will enable secure information sharing between Finicity-supported apps and services, with tokenization supporting a frictionless experience for the consumer whose login data remains with the bank.

Head of Chase Digital Banking Bill Wallace echoed this point in a statement accompanying the announcement, saying, “Working with Finicity, we will enable our customers to make informed decisions while protecting their Chase banking credentials.” Locating customer financial data “at the center of a superior experience with financial apps and services,” Finicity CEO Steve Smith added praise for JPMorgan’s “commitment to helping customers better manage their finances through data access, quality, and intelligence.”

Pictured (left to right): Co-founder and President Nick Thomas and Director of Engineering Jessie Morris demonstrating Finicity’s Verification of Income/Verification of Assets solutions at FinovateSpring 2017.

The news from Finicity is a Big Fintech Deal in the world of data aggregation and data sharing, and shows how Finicity’s unique relationships with FIs and service providers enable the company to provide data aggregation for a range of PFM, digital asset and income verification solutions. The agreement follows on the heels of Finicity’s data sharing deal with Wells Fargo announced earlier this year. In addition to Wells Fargo and now JPMorgan Chase, Finicity has also teamed up with Intuit and fellow Finovate alum, Experian. The later partner is also an investor; Finicity closed a $42 million Series B round led by Experian late last year.

Founded in 1999 and headquartered in Salt Lake City, Utah, Finicity demonstrated its Verification of Income (VoI)/Verification of Assets (VoA) solutions at FinovateSpring 2017. VoI and VoA are part of a suite of tools the company has developed designed to leverage consumer-permissioned data to improve the credit decisioning process. The company is also a veteran of our developers conference, having presented “The Frictionless Aggregation Experience” at FinDEVr New York 2017.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.