Month: October 2010

Free Checking Options Are Dying

Published on by Nichelle Stephens1 Comment

I was listening to NPR yesterday and hear a report about how banks are charging higher fees for basic checking accounts. Free checking is becoming extinct as the big banks need more revenue streams.

Thank goodness you can still find free checking. I myself use ING Direct and Ally, but there are more options if you should check out My Bank Tracker.
MyBankTracker provides a free, easy-to-use website that lets consumers find the best banks, interest rates, peer reviews,  The site fills an industry void by providing a transparent, accurate and consistent source of online banking information.>has added “Bank Deals” to its web portal. Banks can sign up for Bank Deals to have their promotions searchable on the site. Bank Deals gives consumers the additional ability to search for deals based on the most popular and latest promotional offerings.

Introducing New York First

Published on by Nichelle StephensLeave a comment

New York First is a business-focused portal to the wealth of incentives, programs and resources available to companies –large  and small – within New York State and those that choose to relocate here. The site is administered by Empire State Development, but dozens of other agencies are represented. We are confident that the financial incentives and technical expertise found here – searchable by type of assistance, industry, size of business, MWBE (Minority and Women Business) status and more.  

This looks like a great resources and efficient way to find anything related to starting a business in New York.

 

 

Finovate Day 2 and Best In Show

Published on by Nichelle StephensLeave a comment

Yesterday, I arrived at Finovate a wee bit tired after hanging out Brandy Library with some of the conference attendees the night before.  The whiskey tasting was fun and informative.

Anyway back to the conference. A great way to keep up with the 56 companies who presented is to check  out this mind map created by  Maarten Korz.

Hey Developers! You may want to consider developing financial apps.  Yodlee is the web platform for financial apps, and there are more than 200 developers using the Yodlee platform.

The 7 Best in Show winners:

  • Betterment

    • Makes long term investing easy to do. Facilitates re-balancing.

  • BillShrink

    • Saves you money on mobile, cable.

  • Bundle

    • Sorta like Mint.com but giving more info to make personal finance decisions.

  • Dynamics

    • Innovating credit cards and making them more secure

  • oFlows

    • Making loan applications easiers. (B to B)

  • PayNearMe

    • provides the underbanked with a way to pay in cash for ecommerce transactions at 7-Eleven stores all over the country.

  • SecureKey

    • Providing more security for financial info. (B to B)

    I really enjoyed the conference.  I learned a lot.  Hat’s off to all the companies making personal financial management and creating products that help small businesses manage their cash flow.

    Summary of Finovate East Day 1

    Published on by Nichelle StephensLeave a comment

    waffles at finovate
    Today is the first day of Finovate. First off, there’s a definite clash of cultures. Lots of people are wearing suits. I was here last year, so it doesn’t surprise me at all. Some of the start-up guys are surprised to see suit and ties. Another thing is that Finovate is much bigger than last year. It’s two days. There’s a nice laptop lounge. There were waffles for an afternoon snack.

    Demos: There are so many of the companies are in the Personal Finance Management PFM space. Some of them are redundant, but many of the ones that look good are using Yodlee. Mint is noticeably absent, mainly because they totally PWNED the PFM space.

    The ones that I have liked so far: Credit Sesame, Betterment, CashEdge’s Pop Money, and H&R’s Tax Center. All of these are providing solutions for both consumers and small businesses.

    Complaint: iPad Apps. IMHO, there are impractical for personal finance. Most people will do their banking on their native computer or laptop since that’s where all their passwords and cookies are stored. I really doubt iPad users will really migrate that information over.

    From the Finovate hashtag: “There are two emerging trends-social media meets PFM and payday lending meets Web 2.0.”

    Summary Of Finovate Day 1

    Published on by Nichelle StephensLeave a comment

    First off, there’s a definite clash of cultures. Lots of people are wearing suits. I was here last year, so it doesn’t surprise me at all. Some of the start-up guys are surprised to see suit and ties. Another thing is that Finovate is much bigger than last year. It’s two days. There’s a nice laptop lounge. There were waffles for an afternoon snack.

    Demos: There are so many of the companies are in the Personal Finance Management PFM space. Some of them are redundant, but many of the ones that look good are using Yodlee. Mint is noticeably absent, mainly because they totally PWNED the PFM space.

    The ones that I have liked so far: Credit Sesame, Betterment, Pop Money, and H&R’s Tax Center. All of these are providing solutions for both consumers and small businesses.

    Complaint: iPad Apps. Impractical. Most people will do their banking on their native computer or laptop since that’s where all their passwords and cookies are stored. I really doubt iPad users will really migrate that information over.

    Receivables Exchange

    Published on by Nichelle StephensLeave a comment

    Receivable Exchange is the “eBay for Receivables”. It’s a corporate auction site. Trying to make factoring receivables sexy. As a former auditor, I am dubious since how do you know the real value of the receivables? How is the inventory aged? Is this GAAP?