| By Jim Bruene on February 8, 2008 3:13 PM | Comments (3) |
Fiserv's Galaxy unit has created an online banking module for Facebook called MyMoney. I haven't been briefed on it yet, but Galaxy will be hosting a webinar on Tues, Feb 12 and Wed, Feb 13 (register here), if you want a closer look.
According to the company, MyMoney offers full-service transactional online banking:
...members can conveniently view account balances, review history, transfer money between accounts, and much, much more.
Galaxy hopes that the Facebook application leads to viral member growth for its credit union clients:
When a member adds MyMoney™ to their Facebook page, their friends will be notified and given the opportunity to also join your credit union right then and there, giving you yet another way to reach this growing audience.
I couldn't find any mention of the application on Facebook, so it doesn't appear that its been implemented by an credit unions yet. Who will be first? Drop a note in the comments or send me an email (jim@netbanker.com) if your company plans to deploy it.
In November, we awarded an OBR Best of the Web to a similar service from KeyPoint Credit Union powered by mShift (coverage here).
Thanks again to Jeffry Pilcher for the tip.
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This is a huge step forward from mShift's KeyPoint product. As a core data processor, Galaxy is making a Facebook module available to any of its customers.
While questions about functionality, security, interface and style remain, this seems to be a much better option than having to develop your own proprietary solution.
Very cool. I just signed up for Tuesday's webcast. Do you think MyMoney will involve the social aspect of Facebook, or will it be more about offering another point of accessibility. I'm hoping for the former.
@Brent
From the website description, sounds like they are using a bit of the Facebook power in terms of inviting friends to use. But sounds mostly like a point of access...will know more after the briefing.