MobileCrunch has reported about the latest thrill in US market – Account Aggregation with Mobile Banking. Geezeo is a Web 2.0 website which is into finance management domain. It offers two unique services – Geezeo Mobile and Geezeo Student. They are said to be part of much larger Personal Finance Manager that is said to be released soon.
Geezeo personal finance manager will feature solutions to help you manage your debt, keep track of your transactions, provide suggestions for improvement, help you meet your financial goals and connect with others.
Geezeo Mobile = Text message banking + Account aggregation
There is also a screencast on how this application works.
The player behind the scene is our own CashEdge which is powering this mobile based aggregation. CashEdge already have its product named Aggregation in the banking sector. There are
The system seems to cover accounts for every financial institution I’ve heard of, from Bank of America to even the smaller credit unions.
Once your accounts are added, the system will be able to grab the latest balances of from your accounts.
There are also comments from co-founder of Geezeo, Shawn Warde on the post clearing the security concerns. They are using SSL and nowhere user’s banking information stored. Regarding the security provided by CashEdge, he quotes –
It’s worth noting that Cash Edge’s aggregation service is used by some of the largest financial institutions (ex. Vanguard). They are a fantastic company and a great partner. Their customers include 5 of the top 10 US Banks and 4 of the top 10 brokers.
There are other comments from comments who have tested this service and according to them, it is quite good.
Geezeo also has a blog which is getting updated regularly.