Wednesday, April 29, 2009
At Finovate, a bad economy means good start-ups
At the FinovateStartup conference, one thing is clear: a lackluster economy can be the best time for financial start-ups to get new users.
Apps that help people track and manage funds outside of their bank or investment service's site are in high demand, and many of the services presenting at the conference are trying to get those financial companies on board.
Why? Because those companies are still the gate keepers of trust. People are more willing to hand over their account credentials and detailed personal information to larger institutions over some hot, new Silicon Valley start-up. That, and it's a whole lot easier to get in the door if you're built into a financial institution's tools. The hard part of course, is proving you have a system that really works...
CNet: At Finovate, a bad economy means good start-ups
Apps that help people track and manage funds outside of their bank or investment service's site are in high demand, and many of the services presenting at the conference are trying to get those financial companies on board.
Why? Because those companies are still the gate keepers of trust. People are more willing to hand over their account credentials and detailed personal information to larger institutions over some hot, new Silicon Valley start-up. That, and it's a whole lot easier to get in the door if you're built into a financial institution's tools. The hard part of course, is proving you have a system that really works...
CNet: At Finovate, a bad economy means good start-ups
Permalink posted by markw @ 4:53 AM 
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