T8 Webware unveils Grip

Source: T8 Webware

T8 Webware, a provider of progressive, custom-branded mobile applications, websites and personalized payment card services to financial institutions, launched Grip at FinovateFall 2011.

Grip is a financial decision support tool that enables regional and community financial institutions to brand and offer an app that provides the most sought after mobile services. It aggregates consumers' balance and transaction data from an unlimited number of domestic financial institutions into a single, up-to-the-minute collective view, empowering them to understand their money flow simply and without clutter.

Grip does not require core integration, which enables an almost immediate and cost effective way for financial institutions to deploy mobile services in as little as three weeks. This feature is especially relevant for financial institutions not ready or unable to offer a native mobile banking application, giving them a viable alternative to increase customer/member loyalty and service-oriented offerings.

Wade Arnold, CEO of T8 Webware, explained, "Grip is not just another PFM, but alternatively a tool highly focused on real-time living rather than historical spending. It gives consumers up-to-the-minute access to recent financial activity to better understand their purchasing capabilities."

Financial information is solely for the end user and is not shared among other financial institutions. Banks and credit unions offering Grip will have access to an intuitive dashboard that measures the aggregate usage patterns (frequency, time of day, location, etc.). Such data can then be used to direct future branch and ATM locations as well as to calculate an ROI for Grip.

Grip is available to financial institutions without any upfront costs, annual fees or minimum user agreements. Financial institutions will brand and market the application under their own unique name, allowing consumers to download it from the Apple App Store or the Android Market.

"Finovate showcases innovative new concepts in financial and banking technology, and we're excited to have T8 Webware's Grip app launching at the event," said Eric Mattson, Finovate CEO. "Grip has both innovative business model and technological aspects that we think are very interesting and noteworthy."

"T8 Webware felt it was critical to create an aggregation system that provided a higher level of detail on a organization's location and allows for real-time enrichment of those transactions. Grip was written from inception to provide consumers with the most holistic view of their money and to help them get a grip on their daily finances by increasing their organization and empowering them with capabilities that include bill reminders and the ability to capture receipts on the go," Arnold added.

Grip is hosted on the most secure, compliant servers available to Internet and mobile banking. T8 Webware's U.S.-based, world-class, Tier-3 data centers are N+1 redundant, enabling it to provide maintenance to the infrastructure and handle hardware outages without any degradation to performance. 

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