It’s all about shopping for the best deal. What better place to get a deal than at an auction? MoneyAisle, an online bank account marketplace, will add online-account opening technology from Andera to help institutions better close on winning bids for customers.
MoneyAisle, which allows banks to compete with rates and fee offers for consumers researching high-yield savings accounts and certificates of deposits, will be using the same service many online bank vendors are employing for instant-funding options online, including a strategic partnership with Yodlee for an account verification/funding solution in use at more than 30 institutions.
Launched this summer by Burlington, MA-based neoSaej, MoneyAisle is used by smaller and mid-sized banks and credit unions in MoneyAisle’s network to attract deposits that otherwise might go to nationally marketed direct banks. Approximately 100 banks are participating in MoneyAisle’s auctions.