UK PFM start-up Money Dashboard preps for launch
09 December 2009 | 6602 views | 0
Money Dashboard, a UK online personal finance management service, has moved a step closer to launching early next year after signing a deal to use technology from US outfit Yodlee.
The free Money Dashboard PFM portal will use Yodlee's PersonalFinance technology to help users links all their online bank, credit card and mortgage accounts.
Customers will be able to tag transactions and set budgets to help them understand where money is being spent and set e-mail and text alerts for overspend, suspicious transactions or important events.
The new site intends to go live in the first half of 2010 following the completion of a beta trial with thousands of testers.
Money Dashboard is looking to emulate the success of Mint in the US, which was recently acquired by Intuit for $170 million. The company claims that, with up to three quarters of Brits now banking online, the UK is ready to embrace money management sites.
Last year Mint rival Wesabe moved into the UK market through a Web partnership with broadsheet newspaper The Daily Telegraph. A co-branded version of Wesabe's site, branded as The Telegraph Personal Finance Planner, launched on the newspaper's online daily last November.
In October the company, which counts former Tesco Personal Finance CEO Stuart Sinclair as its chairman, raised £1 million in a funding round.
Gavin Littlejohn, CEO, Money Dashboard, says: "Through the new partnership with Yodlee, in an effort to organize and update consumer data safely and securely, we have built a user experience to provide insight into one's individual finances, and help the customer identify financial products that best meet their needs."