Wesabe today announced that Palo Alto-based Addison Avenue Federal Credit Union plans to launch the Wesabe Springboard Community Application, part of Wesabe's award-winning personal financial management website.
Addison Avenue, founded more than 50 years ago for Hewlett-Packard employees and now serving a broad range of members, will use Wesabe to offer the latest in social personal finance insights to its more than 150,000 members across the country.
Wesabe helps financial institutions enhance member relations, increase retention, and attract a new generation of web-savvy customers. Addison Avenue plans to roll out Wesabe's Community features, known as "Groups," where members can share advice and support each other.
"When you look at Wesabe's Groups section, the value is immediately apparent - nearly every question is met with sound advice and supportive comments," said Stu Fisher, senior vice president of eCommerce at Addison Avenue Federal Credit Union. "By adopting some of the popular community features from Wesabe, we're giving our members a chance to connect with each other, and to tap into Wesabe's massive database of personal finance wisdom."
"Online banking is absolutely central to Addison Avenue - only 30 percent of our members ever visit a branch. With such an internet savvy and geographically diverse group, we see Wesabe as an innovative way for our members to help each other reach their financial goals," continued Fisher.
Wesabe's Groups section currently has thousands of active members engaged in thoughtful discussions on a range of topics including paying off debt, smarter spending, buying a house and more. Addison Avenue members will be able to post questions and receive answers from their fellow Addison members, as well as gain insights from the worldwide community of Wesabe members.
"Since our first meeting, we've been very impressed by Addison Avenue's unwavering focus on listening to and helping their members, especially during this time of economic uncertainty," said Marc Hedlund, CEO of Wesabe. "Couple that with Addison Avenue's online banking expertise and technology know-how, and we've got an ideal partner."
Wesabe Springboard gives consumers a "smart" dashboard view of their account data and personal finances - guiding them towards value, savings and goal completion, and away from poor financial decisions. In addition, Wesabe Springboard includes community features that let consumers help each other by anonymously sharing advice, support and tips for getting the most value for their money. Drawing on Wesabe's database of consumer spending behavior, Wesabe Springboard also allows users to benefit from the learning that comes from changes and patterns in how members shop.
Credit unions and banks can implement Wesabe Springboard through either a web services architecture or as a fully hosted web personal financial management (PFM) solution. Wesabe Springboard works with a wide variety of enterprise platforms, including .Net and Java. The web services option uses API-based integration to integrate into the financial institution's existing online banking system.