Shaping the Future

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For those of you that have been following the news, Movenbank has started on its path to rebooting banking by taking the wraps of our Alpha Site. For this, our first blog, we want to tell you a bit more about the progression of Movenbank’s development over the coming months.

The Alpha Team

The first public reveal for Movenbank has happened through our Alpha site launch, featuring our Financial Personality profiling engine. We are inviting a select group of influential bloggers, twitterati and friends of the Movenbank family to participate in our Alpha launch so that we can get early, valuable feedback into our product and service development process.

We’re calling them our ‘Alpha Team’.

Our goal is to create a company with amazingly useful financial products and services. The Alpha team is a vital extension of our own product development team. From the get-go we understood that ‘crowdsourcing’ is essential, to test our ideas, shape the Movenback model and deliver the right products and services for our customers.

In taking this approach we are starting off with a core social element to the way we build our strategy, user interface and data model. We’re asking our Alpha Team members to share ideas, give feedback and tell us how they’d like to spend, save and live smarter.

We’re pretty sure that no other bank has ever been built this way before.

Why a Financial Personality?

At Movenbank, we believe your personality, money, daily behaviors, dreams and goals are interconnected… all part of one big colorful scheme. Your Financial Personality is the first step for us to explore these connections with you.

Movenbank’s philosophy relies on understanding and responding to your day-to-day and future banking needs. These are connected to who you are. There’s no one-size-fits-all approach to banking when you look at it this way. So we start with the financial personality, and build out from there.

What comes next?

In the coming months, here’s how you can expect Movenbank to gradually roll-out:

First, we’ll start by improving content related to, and insight on, your Financial Personality

Then, we’ll be looking at tools to explore your financial behaviors, goals and dreams… the things you do every day

These pieces will then come together to form your CRED score – a measure of your day-to-day financial health and the core of Movenbank’s relationship with our customers

Last, but not least, we’ll roll out Movenbank as a service with our app, Internet banking, integrated NFC wallet and a full range of financial products and services. These will all be integrated via CRED and tailored to your unique behavior.

When do we launch?

Well, the Alpha launch is really the start of our customer engagement model. We can’t launch the bank proper without first really understanding our customers’ financial needs, and that needs data, participation and lots of modeling. Think Google trying to get their search algorithm perfected…

This will take some time, but we’re pushing to launch midway through 2012, first in the US, and then expand to other markets as we grow from there.

If you want to be part of the Movenbank Alpha Team and join us on our journey to Reboot Banking then please sign up at www.movenbank.com and we will welcome you aboard.

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