Today in Edinburgh, Money Dashboard launched Open Beta to the UK market. The announcement was made at TechCrunch Edinburgh following Informatics Ventures' investor conference, Engage | Invest | Exploit 10, as the company embarks on a new funding round.
Hailed as the next Mint.com, Money Dashboard is an easy to use, secure and free online personal finance service that helps individuals and families manage their money more effectively.
Money Dashboard can help consumers make better financial decisions each month, offer tailored solutions and help individuals on a journey from budgeting and into wealth.Levels of demand for the application have consistently exceeded expectations with closed Beta massively over-subscribed, despite the release of thousands of extra places.
Gavin Littlejohn, Money Dashboard's CEO comments: This is a significant milestone for the company and after many months of hard work it gives me a lot of pleasure to be able to open Money Dashboard up and see people start to benefit from it.
Our awareness of consumer needs, coupled with our professional understanding of financial products means we can help consumers make better financial decisions each month, offer tailored solutions and help individuals on a journey from budgeting and into wealth.
Money Dashboard aims to save consumers time, money and stress by bringing online bank accounts and credit card transactions data together in one place.
Consumers can access the Money Dashboard application from any computer and by using it for just ten to fifteen minutes a month it allows them to track spending, set budgets and helps them save.
As part of the launch a number of new features have been released including ‘Ways to Save' pages. It is from these pages that Money Dashboard will monetise the application by offering access to financial products, on which it will earn a marketing fee from the provider.
Money Dashboard is clear that it will continue to provide a free service and remain impartial and independent of banks, building societies and lending organisations. Money Dashboard is the consumer's friend, putting people in control of their finances and helping them identify suitable products and ways to save.
Over time Money Dashboard will personalise the ‘Ways to Save' pages making them more relevant to individual members. Money Dashboard has pledged to be absolutely transparent about its relationship with banks and other providers and will help the consumer make financial decisions by explaining complex financial products in plain English.
Additional features released today include email alerts to let users know when they are nearing their spending limit in defined categories and to help avoid over draft charges.
Tester feedback received during closed beta testing has resulted in substantial changes to make Money Dashboard more usable and functional. With transaction tagging, navigation, help and account management all improved.