|By Business Wire||
|June 10, 2014 09:17 AM EDT||
Financial Apps is introducing its modular technology that enables users to manage their financial data (FinDat) in a highly personalized way. Offered to consumers through traditional and alternative financial service providers, the data within the white-labeled platform provides these organizations with improved customer insight for enhanced decisioning and targeted cross-selling opportunities.
Financial Apps was founded by a team of tech-savvy entrepreneurs with more than 40 years combined experience in the financial services industry. The platform they have developed combines a user’s transaction-level FinDat with lifestyle data to provide consumers with financial education and tips, money management tools, fraud alerts and targeted offers. Organizations from banks and financial advisor firms to debt management counselors can deliver deals along with personalized advice, such as how a purchase could affect a credit score or why using cash is better in certain situations.
“Data isn’t just for running reports and looking pretty. It needs to be actionable,” said Bob Sullivan, founder and president of Financial Apps. “The Financial Apps platform goes beyond aggregating account data to include lifestyle data - things like social media check-ins and likes - to take personalized offers to a new level. This is a value-add for the businesses offering the platform to their customers while allowing consumers to make their own data work for them.”
Built in a modular fashion, organizations can pick and choose which components they would like to offer the end user. Based on customer need, these organizations can select components as simple as seeing a list of recent transactions across accounts, or as complex as an entire budgeting system.
“We think this approach meets the demands of the modern consumer looking for a more holistic, creative financial snapshot,” said Sullivan.
ABOUT FINANCIAL APPS
Fort Lauderdale, Fla.-based Financial Apps is a provider of modular technology tools that allow a user to access and manage financial data (FinDat) such as transaction history and cash flow. The platform combines financial data with data on a user’s lifestyle, allowing an organization to provide customers with financial education and advice, fraud alerts and targeted offers that will improve and protect their financial health. The transaction-level data within the Financial Apps platform also gives traditional and alternative financial service providers improved customer insight such as deposit amount, frequency, loan to value ratio and ability to repay while uncovering cross-selling opportunities.