February 2013
6 posts
Moven Wins Best of Show at Finovate Europe 2013
The entire Moven team is very honored to have received a Best of Show award at Finovate Europe 2013, an annual conference showcasing the future of the finance and banking industry. We are humbled that our peers recognize us as a leading financial innovator. It validates that our passions are well placed and that our solutions are full of promise. We are also grateful for all the messages we...
Riches to Rags: Lessons from The Queen of...
It’s not often that you hear a riches to rags story, but the tale of mogul David Siegel, his wife Jackie, and their quest to build the largest home in America is just that. In 2007, the Siegels welcomed cameras into their home to film construction of their 90,000 square foot mega-mansion. But the fairytale quickly soured when the markets crashed in 2008. Siegel, once a billionaire, was forced...
Buffett, Scrooge & the Secret to Saving
Warren Buffett has some financial advice for Americans: invest in yourself. And when the second richest man in America, a man who has also pledged to give 99 percent of his fortune to charity, starts giving financial advice—he might just be worth listening to. We’ve all heard the “pay yourself first” mantra when it comes to business. It sends a message to investors loud and clear:...
Generation Screwed: Why Retirement is a Joke
Gold watches, a fat pension and a beach house in Florida. Your grandparents’ generation spent their lifetime paying the bills, raising your parents and saving for retirement. They put in 40 years of hard work to spend their golden years in comfort and security. Generation Screwed You, however, are in for an interesting ride. GenY has now earned the name GenScrewed. With median income...
Get Moven: Why We Dropped Bank From Our Name
We live in a great nation.
One of the strongest and wealthiest in the world. And though the great recession knocked us down, we were never out for the count. We took extraordinary measures to save our banks and what has emerged from that effort, and been a long time coming, is a new way to think about our money.
Just recently some of us sat down to talk shop with our peers at a few of the...
Are You a Slave to Stuff?
Have you ever opened your closet and been buried under an avalanche of clothing? Do you park your car in the driveway because the garage is full of things you don’t remember buying? Do you sometimes find a never worn piece of clothing with the tags still attached? Has your “junk” drawer slowly become a “junk” desk and is now an entire “junk” room? ...
January 2013
7 posts
How to Avoid Financial Kryptonite
You may not realize it, but your friends and neighbors are out to get you. They may smile and nod, and be polite, but they’re really plotting your downfall. Or not. But they probably aren’t helping you build your financial health, particularly if you spend most of your time acting like Clark Kent, and not enough like Superman. You may remember Clark Kent—polite, unassuming and generally an...
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How Plastic Cards are Ruining Your Finances
Your plastic bank cards are ruining you. Those small rectangles in your wallet might seem harmless, but, without even realizing it, your debit and credit cards have trained you to develop unhealthy behaviors. How? Cards put up a barrier between your money and your life. Spending (or saving) your money is an expression of your wants, desires, goals, fears, and needs. It changes based on life...
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Love Don't Pay the Bills
So, you’re engaged. Congratulations! You share a home, you share a life, and now you share a future. Now how about sharing your wallet? Handing yourself over, mind, body, and credit card to your partner doesn’t have to be scary — it can even make you stronger as a couple. After all, trust is a beautiful thing! We’ve all heard the statistics about the role that money can play in marital conflict,...
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There Is Always More To Learn About Your Financial...
There are millions of places to learn about money. Newspapers, blogs, podcasts, and books - just to name a few. But these will never, ever be able to give you the full story. Why is that? Because they are missing the most important determinant of financial health: You. The truth is financial health is not a dollar amount; it’s not how much money you have, what you own, where you live, or what...
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Behaviors That Destroy Your Financial Health
If you received a raise tomorrow, what would you do with the extra money?
Most people would celebrate—maybe with a nice dinner out or a great bottle of wine, which you deserve. However, earning more should not always change your current or long-term spending habits. The problem is that our minds have the tendency to think we can (and should) spend it. This can quickly create a loss of...
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No More Broken Promises
There has been a lot of talk around the Movenbank water cooler lately about AIG’s potential lawsuit against Uncle Sam for the infamous 2008 financial sector bailout.
And, quite frankly - we’ve had enough.
We’re tired of the fact that mismanagement continues to be rewarded in the financial sector.
We’re tired of seeing our fellow Americans hurting.
We’re tired of the same old tune.
...
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Wait… I actually have to make a plan?
Navigating through our financial life is a lot like navigating across country by car. First, you have to determine your destination. Next you have to determine where you will stop in between. Then you evaluate the different routes that will get you to those stops, and eventually, you reach your final destination. The alternative is to simply hop in the car and head out on a road trip and see...
December 2012
3 posts
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$39K on Milk & Espresso? Think Again.
One of the most common concepts in the world of personal finance is the Latte Factor. Personal finance expert David Bach suggested that if you forgo your daily latte, and bank the money instead, it could really add up over time.
It’s not just about the coffee, either. The Latte Factor encompasses all of the small, unnecessary spending that can drain away your wealth over time. If you stop...
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Holy Eff I’m Poor
I’m a 20-something living in Manhattan. I work in finance, don’t have a drug problem and yet my bank account balance says $70 dollars and it’s only the 5th of the month.
How exactly did this happen? Tasti D lite, US Weekly, manicures and cabs. It all adds up.
How do I fix this? No, my suggestion isn’t to sell your soul and/or grow a money tree, but to make a few small changes...
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November 2012
16 posts
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i heart my job
There are several reasons why I lovvve walking into the bouncy ball loving, toy airplane flying office of Movenbank every single day. Here are those reasons.
1. Everyone is really F#@$ing passionate. And I’m not talking passionate like you read about on some cheesy motivational sign. I mean everyone genuinely loves what they do and believes in the product they’re building.
2. I’m always inspired...
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No one cares about your idea
We all think our ideas are godsends.
You have that ‘Ah Ha’ moment when it all makes sense and you’ve figured out a way to change the world and you’re on your way to a billion dollar business or winning the Noble Prize. You then launch your idea out to the world and no one uses it. Ok, maybe 100 people do. “How is everyone not clamoring on to this awesomeness I created?!?!” you ask yourself....
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Recipe for changing the world
Have an idea you believe in that solves a big problem? It all starts with an idea and a passion to solve a problem. Then it’s a game of hard work and force of will to make it come alive.
1. AN IDEA THAT SOLVES A PROBLEM
For Movenbank, the central idea is re-connecting everyday consumers with their money. For us, it’s about solving an everyday problem – consumers have lost touch with their...
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Design in context: Using big data to change small...
This is the first in a series of posts entitled Design In Context, written by members of Movenbank’s User Experience team. This first post is written by Steve Fors, Head of User Experience, Movenbank.
I’m like a lot of Americans—I take pride in working hard, do my best to pay my bills on time, and hope to have enough money to live comfortably when I retire. But the past few years have been tough....
When is a bank not a bank?
When is a bank not a bank?
One of the most frequent questions we get asked is whether Move-and-Bank is a bank or not. Well, let’s just set the record straight. From a regulatory perspective, we don’t have a banking charter (some call this a banking license), so we’re technically not a bank. We don’t have a charter because it gets incredibly complicated and expensive, which is the reason hardly...
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CRED launches and we get funded!
After months of wireframe sketching, intense coding, late night dinners at Mandoo Bar, and copious amounts of Starbucks and Gregory’s Coffee, Movenbank has launched our latest version of our website complete with our proprietary CRED relationship and credibility score. We’re also delighted to announce our latest funding round, because it means that our coders can finally pay their rents on time –...
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Brett King named 'Innovator of the Year' by...
Brett King, renowned author of BANK 2.0 and CEO and Founder of Movenbank, was this month named the Top Innovator of the Year for 2012 by American Banker in the Bank Technology News “Annual Innovators of the Year” edition. The “Innovator of the Year” Award is chosen by the editors of American Banker’s Bank Technology News with input from a select group of experts in the field of financial services...
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Movenbank introduces cashless, teller-less digital...
In response to the strong demand for us to compete with the main street branch players, our recent efforts at crowdsourcing our business model has led us to investigate a revolutionary new form of branch for the US and UK markets. The new branches which we at Movenbank simply call ‘the space’ is designed to give our rapidly growing customer base the comfort of a branch environment, without many of...
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Google Wallet Cracked: What this means for mobile...
Few people dispute that the age of plastic and cash as a primary means of payment is coming to an end. Although, researchers have just revealed that the Google Wallet PIN could be compromised under the right set of circumstances which could be viewed as a setback (Researcher Cracks Google Wallet PIN).
The article highlights that developers are not applying secure development lifecycle practices...
We believe you, not just your money
Banks talk about trust, credit and risk all the time. So do we here at Movenbank, but we talk about it in a different way.
Traditional banks discussion of trust, credit and risk is about – Do we trust you? Do you deserve credit? What is the risk of providing you with money? It’s all about me and whether I want to deal with you.
At Movenbank we’re turning that around.
We want it to be all about...
To Facebook or Not to Facebook
With the release of the Movenbank Alpha Site, several of our Alpha Team members have asked about our use of Facebook for registration and logging into movenbank.com. We at Movenbank have a tremendous respect for the need to secure private data, especially information about your financial behavior so we thought we’d take a moment to talk about Facebook, your privacy and how we use your data.
Are...
Scott Bales joins Movenbank journey as Chief...
As Chief Mobile Officer, Scott will be responsible for defining the Movenbank mobile-centric bank technology vision and implementing the mobile technologies that will enable Movenbank customers to spend, save and live smarter.
Scott joins Movenbank with over ten years international experience in financial services innovation, thought leadership and implementation planning, most recently as SVP of...
Shaping the future
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...
World’s first everyday cardless bank to launch 1st...
As of 1st October, Movenbank, the world’s first everyday cardless bank, will begin to “alpha test” its services with a select few members of the public. The launch of Movenbank was announced by its founder and chairman, Brett King, at the SIBOS Innotribe conference in Toronto last week. It is a completely new model of bank that will operate entirely online embracing mobile and social technology.
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