Wesabe Announces First Springboard Financial Institution

Launched last month for credit unions and banks, Wesabe Springboard is a web-services-based version of Wesabe's award-winning money management site. Springboard aims to help financial institutions enhance member relations, increase retention, and attract a new generation of web-savvy customers. Recognized as the first and most innovative company in the Web 2.0 personal finance management space, Wesabe has been helping members reach their financial goals since November 2006.

"With the current economic climate, more and more consumers are looking for ways to better manage their money. Springboard will give our members proven personal finance tools, the latest community and social features, and a massive database of consumer wisdom," said Bill Mesplay, senior vice president and CIO of Delta Community Credit Union. "With Springboard tools such as Cutback - which identifies and flags recurring expenses that Wesabe members have been successful at cutting, such as unused gym memberships and subscriptions - we'll help our members find immediate savings."

"The response to Springboard has been tremendous, and there really couldn't be any better validation than landing one of the most respected credit unions in the country as our first customer," said Marc Hedlund, CEO of Wesabe. "We're inspired by Delta Community Credit Union's relentless focus on how to best serve their customers, and feel our shared consumer-centric vision will lead to a very productive partnership."

Springboard gives consumers a "smart" dashboard view of their account data and personal finances - guiding them towards value, savings and goal completion, and away from poor financial decisions. In addition, Springboard includes popular community features that let consumers help each other by anonymously sharing advice, support and tips for getting the most value for their money. Drawing on Wesabe's database of consumer spending behavior, Springboard also allows users to benefit from the learning that comes from changes and patterns in how members shop.

Credit unions and banks can implement Springboard through either a web services architecture or as a fully hosted web personal finance management (PFM) solution. Springboard works with a wide variety of enterprise platforms, including .Net and Java. The web services option uses API-based integration to work with the institution's existing online banking system.