How they describe themselves: Social Money leverages the award-winning technology of SmartyPig to create a customized, bank-audited goal-saving system for financial services companies, merchants and other industries to reach Gen Y savers. Our product greatly enhances savings programs of the past with social networking features and a cutting edge user interface, allowing clients to add a new layer of functionality over existing savings products and software platforms.
How they describe their product/innovation: By using the configurable GoalSaver program, any financial services company in the world may offer its customer base an innovative and attractive approach to saving – quickly and for a fraction of the cost of a new program. The product helps any FI create a social strategy, increase customer engagement and retention, cross-sell other products, drive brand awareness, and gather valuable data on future spending. The system is available to any bank, in any language, using any currency, as a way to create a scalable and customizable application for goal savings. GoalSaver may also be leveraged by leading merchants (Christmas clubs and wish lists), and a host of other industries, such as prepaid or payment processing companies.