Bank of America Reports 2.5 Million Users of My Portfolio, its Online Personal Finance Tool |
Two months ago we published a table (here) showing active users at the leading online personal finance startups. Below is the table, updated with March traffic and the addition of one more player: Bank of America.
The bank, which offers a full-featured online personal finance management solution called My Portfolio, powered by Yodlee, has 2.5 million active users, according to BofA exec Marina Moore (note 3). That's an impressive 10% of the bank's online user base, and about 6x the total user base of all the online startups combined (note 4).
| Company | Users (1) | % of Total | March Traffic(2) | Jan Traffic(2) | Chg |
| Bank of America | 2.5 million | 86% | -- | -- | -- |
| Mint | 180,000 | 6% | 160,000 | 150,000 | 7% |
| Wesabe | 100,000 | 3% | 28,000 | 41,000 | (32%) |
| Buxfer | 80,000 | 3% | 8,400 | 9,200 | (9%) |
| Geezeo | 20,000+ | 0.7% | 8,400 | 14,000 | (40%) |
| NetWorthIQ | 13,000 | 0.5% | 10,000 | 11,000 | (10%) |
| BillMonk | 10,000+ | 0.3% | 1,700 | 1,000 | +70% |
| Expensr | Five figs | 0.3%+ | 2,000 | 1,700 | +18% |
| Total | 2.9 million | 100% |
For more information:
- Online Banking Report (131/132): Personal Finance Features for Online Banking
- Online Banking Report (142/143): Social Personal Finance
- Our FinovateStartup Conference April 29 in San Francisco, where Buxfer, Expensr, Jwaala, Mint, and Wesabe will present the latest in online personal finance features
Notes/Sources:
1. Users: per BusinessWeek Online, Feb 2008, figures are reported by the companies and may include inactive users; Mint has been updated to 180,000 from 130,00 based on new figures reported in the Bank Technology News article published in April 2008
2. Traffic: per Compete estimates of website traffic for March 2008, retrieved April 21, 2008. Compete estimates traffic from its online data and can be off by a factor of two or three-fold for smaller websites.
3. As reported in a Bank Technology News article published in April 2008.
4. This table does not reflect all the players, such as Intuit's new Quicken Online, just the ones highlighted in the BusinessWeek article.
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