Mint is one of the hottest web 2.0 companies at the moment. After a couple of months of beta testing, they officially launched the service three weeks ago.
The timing was perfect, as they won the Techcrunch40 award in the US. The competition was tough with only 40 companies shortlisted out of 700 and only one winner. Well done Aaron, and well done to your team.
Like social lending, the personal finance space is crowded with players such as Wesabe, Mint, Geezeo, Buxfer, Billmonk…
My Finovate was extremely busy and productive, and meeting Aaron Patzerwas great. During his presentation, Aaron introduced us to its award winning service. Mint’s goal is to help its members save money. The only ads on the website are calculated to save you money. On average, they are claiming to be able to save you over $1,000 per year.
Mint connect with over 35,000 financial institutions and notify you by email or text alerts when you are about to go overdraft.
They also remind you the bills you have to pay today, and can tell you if you have overspent on a specific type of spendings (based on tag/category, like restaurants, hotels or drinks).
Contrary to other competitors, Mint is supposed to be 90% accurate when they automatically assign categories.
Interview with Aaron Patzer