Press and Blogger Central / Press Release
AtomicPR for Mint
Mint Money Management Finds Users More Ways to Save – Just in Time for the Holidays
New Personal Finance Features Give Users Greater Insight into Spending
Mountain View, Calif., December 4, 2007 – Mint (www.mint.com), the fresh, free, easy and intelligent way for people to manage their money online, today announced new features that provide more personalized savings and financial management recommendations, giving users deeper insight into their expenses and bank fees. This is the second round of product enhancements since the beta product’s launch in September 2007.
“We’re happy to see how quickly people are adopting our new personal finance features. Budgeting – which launched last month – is already one of our most popular money management features,” said Aaron Patzer, founder and CEO of Mint. “When people have a free, no-accounting-required way to manage their money, they’re able to make better financial management decisions and ultimately to do more with their money. And that’s what Mint.com is all about.”
Mint’s New Features
Expanded Savings Database. Mint.com has just added information on interest rates, terms and rewards on tens of thousands of financial products to its proprietary database. This increases Mint’s ability to match its bank account and credit card recommendations to users’ individual needs, resulting in more personalized ways to save.
Transaction Splitting. Mint users can now divide a single ATM withdrawal across the categories in which the cash was spent (e.g. Gas, Restaurant, and Groceries) Likewise, users making a large purchase from a department store like Target can now divide that transaction into Clothes, Electronics and Toys. This feature helps users get an even more detailed view on where their money goes each month.
Automatic Detection and Categorization of ATM fees. Unique to Mint.com, ATM transactions will have any fees automatically categorized separately from the amount of cash withdrawn. An ATM withdrawal of $103 will be split into its $3 ATM fee and $100 cash – providing more transparency on fees charged by banks.
These features join others launched in October that are already giving users enhanced control over their money:
Budgeting and Budget Alerts. Mint users can set budgets in any spending category, and track spending versus that budget throughout the month. If requested, users can receive email or text message alerts if they exceed their target.
Account Naming and Customized Views. Users can now view spending in business accounts separately from spending in personal accounts, or view individual accounts separately from joint accounts. In addition, bank and credit card accounts can now be renamed by users. Taken together, these enhancements enable users to create a more customized and intuitive view of their spending.
How Mint.com Works
Since announcing its public beta on September 18, 2007, Mint.com has provided an automatic, secure, and nearly instantaneous snapshot of a person’s spending, organizing over $3.5 billion in user transactions, and identifying over $55 million in savings opportunities.
Mint.com is designed to make managing personal finances virtually effortless for the user -- and it’s free. It takes less than five minutes to get started; users register anonymously using only a valid email address, and then securely connect to their online bank, credit union and credit card accounts. Mint.com does the rest; users never need to import or synch any data. Mint.com securely downloads transaction data from more than 3,500 financial institutions on a daily basis. It applies patent-pending technology and proprietary algorithms to compile and categorize transactions, providing users with a unified view of all account activity with high degree of accuracy and detail in a single, easy-to-understand interface.
An advanced alerting system proactively lets users know about unusual activity, low balances, bank fees and charges, and upcoming bills. Beyond showing users where their money goes, Mint.com also provides specific, individualized suggestions that can save them real money.
Safety and Security
Mint provides the same level of online data security as top US banks through a partnership with Yodlee, the leading provider of online banking services to major financial institutions for nearly ten years. Mint’s privacy and security policies and systems have been certified by Hackersafe, TRUSTe and VeriSign. Mint never asks for a personal identity, requiring only a valid email address.
About Mint http://www.mint.com
Mint.com is the fresh, easy and intelligent way for people to manage their money online. And it’s free. Designed to be virtually effortless for the user, Mint.com money management takes less than five minutes to get started. Users register anonymously using only a valid email address and Mint does the rest, securely downloading transaction data from more than 3,500 banks, credit unions and credit card providers on a daily basis. Users never need to import or synch data. Mint applies patent-pending technology and proprietary algorithms to compile and categorize transactions, providing a unified view of all account activity; alerting users to unusual activity, low balances, bank fees and charges and upcoming bills; and giving users personalized suggestions for significant savings opportunities.
Mint’s management team includes experienced executives drawn from the ranks of Charles Schwab & Co., eBay, Expedia, Intuit, PGP and other leaders in the finance, security and software spaces. Investors include top venture capital firms and prominent individuals associated with companies including Blue Nile, Google, Intuit, PassMark Security, PayPal, Yahoo! and others. s associated with companies including Blue Nile, Google, Intuit, PassMark Security, PayPal, Yahoo! and others.
For more information on Mint.com’s free online personal finance service, please visit www.mint.com.