Wednesday, October 15, 2008 is Cool

At Finovate 2008 I had the chance to meet with Ken Lin, the CEO of Credit Karma.

The former E-Loan executive described his company as a consumer friendly alternative to the subscription based credit report offerings. CreditKarma lets consumers use totally free tools to

-Check credit score
-Compare credit score to others
-Simulate how certain actions may affect your credit score, like taking out a new loan
or paying down balances

CreditKarma runs on an advertising based business model. In addition to traditional display advertising running on the site, they feature what they call Karma Offers, or specific product offers that are tailored to your specific credit profile. The Offers are further vetted by a comment and voting mechanism, with popular and recommend offers naturally getting the most promotion.

I signed up myself, and enjoyed the ease and utility of the service it offers. Advertisers likely also are delighted by the targeted consumers that the Karma Offers product can deliver.

MoneyAisle Offers Real Time CD Rate Auction: Finovate 2008

MoneyAisle was one of the most compelling presenters at the 2008 Finovate conference held in New York City yesterday. The company's offers consumers the ability to shop for the best CD rates via a reverse auction for the CD terms requested, conducted in real time. Banks, especially local and small banks, get to compete for a national audience of consumers looking to make time deposits, and pay only a fixed success fee to MoneyAisle. Consumers get exposure to many more banks than they would if they were to shop and compare at, for example, but moreover, they don't have to shop and compare -- they simply get matched with the bank offering the highest rate and have 30 minutes to confirm the transaction with the bank directly.

Sunday, October 12, 2008

New Bank/Rate Comparison Sites Hit The Web

BankAround and MyBankTracker are two new Bank/Rate comparison websites that have recently been launched in the space almost completely dominated by

Both boast handsome interfaces for consumers to search and compare bank interest rates for multiple products, free of Bankrate's advertising clutter and rate table gauntlet that others have complained about.

The highlight for the would-be Bankrates, has been the 15 Million Dollar Sale of, a blog run by one person, to