Banno Launches Data-Analytics Marketing Feature
Banno is launching a marketing service for banks that lets them automatically tailor online ads.
The Cedar Falls, Iowa, startup said its Kernel service measures a user's internet interactions with a bank and then targets advertising to that person. At the same time, the service uses responsive design to make digital changes to the ad so that it displays properly on different devices (desktop, tablet or smartphone). Banno sells web hosting and design services to financial services companies.
The company made the announcement during a demo on Tuesday, the first day of FinovateSpring this week in San Francisco.
Currently eight community banks ranging in asset size from half a billion dollars to $8 billion are doing "deep case studies" on the technology in order to determine what the service is worth.
Right now, however, Arnold says Banno would charge a typical community bank about $500 a month to use Kernel.
Follow Sean Sposito (@SeanSposito) this week as he covers FinovateSpring 2013 (@Finovate) in San Francisco.