The newest issue of the Online Banking Report, a ten-year old publication covering financial services on the Internet, covers Social Personal Finance, looking at Wesabe and other sites that help people manage money and investments online. We’re honored to have been awarded OBR’s “Best of the Web 2007” as part of the report. The extensive and very well-researched report devotes seven of its 44 pages to Wesabe, and identifies us as the leader in the social finance area. Some choice quotes from the report:
Wesabe is first and foremost a Web-based personal financial management application. But what separates it from at least two dozen others, is the added layer of user connections – Tips, Goals, and Groups – integrated into the transaction data. It’s a clever platform and provides many avenues for growth over time. We are awarding it our first OBR Best of the Web 2007 largely based upon that integration. […]
It’s tempting to call it “Quicken meets MySpace”, but that’s an oversimplification. We doubt either Quicken or MySpace users would find many similarities. But those analogies short-change the vision of founder Jason Knight, who I caught up with over coffee in Seattle in late May. I came away with a new respect for what Wesabe is doing, not really looking to be a Web-based Quicken, but more of a Quicken/Google mashup, providing actionable insights into the billions of consumer purchases each year, akin to Google’s algorithmic processing of billions of Web pages. […]
Wesabe is a company you want to love. They are on a mission to bring clarity to the mess most people make of their personal finances, all the while trying to help consumers save money, save fees, and be smarter financial consumers. As a social network, Wesabe hopes to bring a bit of community around one of the more important parts of most peoples lives: their spending and banking habits.
Thanks very much to the Online Banking Report for the award, and thanks also to report author Jim Breune for providing great positive feedback and some insightful critiques. We know we’re off to a great start, but also that we have a lot of room to grow and improve on the site, and we’re well on our way. Thanks, and stay tuned for more.