MoneyAisle - You Run an Auction, Banks Bid for Your Business

Auctions can be initiated at any time, 24/7, and the best available rate among participating banks is provided in just a couple of minutes. MoneyAisle is the only consumer site where sellers actively bid against each other for every unique buyer in real-time. This innovative model, powered by neoSaej's patent-pending technology, conducts competitive shopping on behalf of the consumer and shifts the buyer's burden to find the best rates onto the sellers.

MoneyAisle inverts the traditional online auction model, popularized by sites such as eBay, where buyers bid against each other. The eBay model works well for unique or rare items, but ultimately benefits the seller by driving up prices. While traditional online auction sites are seller-centric, MoneyAisle has made the process buyer-centric by allowing the consumer to reap the benefits.

MoneyAisle distinctly differs from other online business models, such as comparison shopping aggregators where consumers can check already established and listed rates, which are not updated in real time. In addition, MoneyAisle does not accept any advertising, allowing us to remain independent. By contrast, most rate aggregators are supported by ads and therefore subject to possible influence. By having banks compete through iterative bidding in live auctions for customers, MoneyAisle ensures that the rate received is the best rate available in our banking network at that time.

"MoneyAisle dramatically changes how online business is conducted," said Mukesh Chatter, president and CEO of neoSaej. "Our revolutionary technology not only offers a new buyer-centric purchasing model, sellers have absolutely no ability to influence the process outside of competing for customers, encouraging them to generate their best prices and rates. In the past, the burden to get the best rate was on the buyer. With MoneyAisle, the buyer's burden has been lifted."

How MoneyAisle Works

MoneyAisle's easy-to-use interface is continuously available and allows consumers to establish a live, secure auction that fits their specific criteria at any time. To initiate an auction, buyers simply set the amount of money they wish to invest in a high-yield savings account or CD, as well as the duration of the CD term. The auction begins immediately and our participating banks bid for the consumer's unique set of needs.

Behind the scenes, the company's proprietary technology allows banks to participate in real-time bidding before rates are presented to customers. The bidding process is repeated as necessary, with increasingly higher rates, until one bank is left. Consumers have the satisfaction of knowing that banks are competing for their specific needs and that a great rate was secured. If the consumer is pleased with the rate secured and decides to invest in the CD or high-yield savings account, they have the option of taking the next steps to do so directly with the winning bank.

"MoneyAisle and the technology powering it is a potential game-changer for e-commerce," said Professor Robert Freund, co-director of the MIT Program in Computation for Design and Optimization and neoSaej advisory board member. "The technological innovations that neoSaej is pioneering have the opportunity to alter the way business is conducted on the Internet. Instead of accepting the price offered, consumers now have banks competing for their individual needs. The model can easily be applied to other goods and services."

The new business model MoneyAisle provides has already become an attractive offering for small and mid-sized banks. The company's easy-to-learn, fully automated software provides banks with access to a large addressable market of potential new customers from across the United States. Devoid of expensive advertising and cost-per-click based lead generation methods, such as those popularized by search engines, MoneyAisle's fees are success-based - banks only pay a small fee when a new customer is acquired. This is in sharp contrast to cost-per-click sponsored links and display ads, which are subject to fees regardless of success, causing banks to pay for leads with low conversion rates, while exposing them to questionable click activity. In a marketplace increasingly dominated by a few large banks and their enormous advertising budgets, MoneyAisle levels the playing field, finally providing small and mid-sized banks with the opportunity to compete for customers nationwide.

"Banking, especially at the community level, has not evolved as quickly as consumer buying habits have shifted," said A. James Lavoie, former chairman and CEO of Middlesex Savings Bank and neoSaej advisory board member. "MoneyAisle is an exciting concept that truly transforms how banks can attract new customers, and allows them to do so at a very low acquisition cost. By creating a real-time online market place, MoneyAisle satisfies the needs of both banks and consumers. Everybody wins. Banks have the opportunity to reach new customers and gain more business while consumers receive the best rates possible."

Please visit the MoneyAisle site at http://www.MoneyAisle.com to test drive a live auction. MoneyAisle has also launched a consumer blog at http://www.MoneyAisleblog.com.