Targeted Deals and Cash Delivered to Online Banking Users by Micronotes via the Yodlee FinApp Store
Cambridge, Mass. – January 12, 2011 – Micronotes today announced the release of KulaMula, one of the first partner-developed applications for the Yodlee FinApp StoreTM. Available for free, KulaMula connects leading brands with online banking consumers to deliver highly customized offers based on previous purchasing patterns and user input. Featured offers include electronics, consumer goods, automobiles, and lifestyle products and services.
KulaMula is available to Yodlee MoneyCenter users today and is capable of deployment across any financial institution or portal offering Yodlee powered products. Yodlee currently powers personalized money management services for over 26 million consumers at major financial institutions and portals worldwide.
“Micronotes’ KulaMula is one of the first revenue-generating third-party applications to go live in the Yodlee FinApp Store, which is available today to banks running the Yodlee 10 personalized finance platform,” noted Joe Polverari, chief marketing and strategy officer at Yodlee. “More than 200 developers are already creating innovative FinApps on the Yodlee platform, extending and personalizing the money management experience for consumers, while creating significant new online revenue opportunities for banks.”
Consumers who download KulaMula opt in to participate in 30-second micro-interviews consisting of between one to three questions with well-known brands. Upon completion of the interview, users are presented with special offers for products and services that have been tailored based on interview responses. Users who decide not to take advantage of the offer are paid in cash as gratis for their participation in the micro-interview. Regardless of the consumer’s level of participation, customer data and personal information is never shared or resold.
“The KulaMula application enables online banking customers to take control over their online marketing environment,” said Devon Kinkead, CEO and founder of Micronotes. “Partnering with Yodlee enables us to present customized deals to authentic and interested online banking users in a safe and secure environment that fundamentally changes marketing from messaging to listening and responding in real-time.”
To download KulaMula, consumers log on to the Yodlee Money Center, click on the beta tab and enter the FinApps Store. The KulaMula FinApp will also be available to all Yodlee bank and portal customers using the Yodlee 10 platform.
About Yodlee
Leading financial institutions trust Yodlee to power critical online financial applications. Yodlee's personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure source for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 12,000 account sources and over 120,000 different account types. More than 200 leading financial institutions and portals today offer Yodlee-powered solutions to millions of customers worldwide. Yodlee operates in the United States and Europe and is headquartered in Redwood City, California. For more information, visit www.yodlee.com.
About Micronotes
Micronotes is an interactive direct marketing company that connects marketing dollars directly to consumers through the online banking channel while generating cross-sell and revenue generating opportunities for financial institutions and marketers. Founded out of a research project at the MIT Sloan School of Management, Micronotes’ core offerings include the KulaMula financial application that is available for free through financial institutions and the KulaQ marketing platform that enables brand marketers to build a series of questions for the consumer to generate highly customized offers. By participating in 30-second interviews, consumers receive customized offers and cash incentives in a zero spam environment while financial institutions generate profit through revenue shares with brands, and brands realize higher returns on marketing campaigns.
Contacts:
Kathleen Keating
FastStartPR for Micronotes
617-460-2702
Melanie Flanigan
Yodlee
650-980-3707
