SmartyPig®

"Banking" and "innovation" are two words that are typically not paired up. For years, banks have been interested in the Web but have tended to use it only as an extension for their traditional products. Most banks' idea of Web 2.0 is letting you view your balance or statements online. And while it may be better than the old way, there is nothing groundbreaking about it. It may be faster, but it's not different. At SmartyPig we've actually changed the game, and our latest play is our most exciting one by far!

We have a new widget option for sharing your public goals with friends and family. We are leveraging the Clearspring widget technology from our friends there to allow you to easily integrate your SmartyPig goal widget into the leading social networks, start pages, desktops and blogs. Such as MySpace, Facebook, Google, Dashboard, Live, myYearbook, Netvibes, Hi5, Freewebs, Xanga, Friendster, Tagged, Blackplanet, Blogger, TypePad, Livejournal, Wordpress, Hoverspot, Multiply, Eons, Pageflakes, Webwag, Orkut, Vox, Piczo, and Perfspot.

Because we are able to break the mold again and again, reacting quickly to what our customers want, we are watching as our message of responsible saving resonates from coast to coast. And it is not just about folks signing up for SmartyPig, it's what they do upon signing up: They invite others to be a part of the experience. Clusters of users have created their own SmartyPig Friends groups. Some are saving for different events like weddings, a family vacation and the latest in electronics, while others are saving for the same thing, all together, like Spring Break 2009 or their Girls Night Out.

Most importantly, all of these individuals are sharing in the goal-saving experience - just like when they share about other aspects of their lives on their social networking pages, Websites and blogs. This true banking/social application is only available on SmartyPig, and we feel our updated widget option will go a long way in our really opening up this social side of saving, letting customers build their groups, allowing others to easily help them along, and most importantly giving them another tool that will keep them focused with regard to sensible saving.

In a terrific post by blogger Guillaume he writes of a "most critical time" for banks regarding true innovation, pointing out that without paying careful attention to what is going on in areas like the social space (like SmartyPig does), traditional financial institutions could be relegated to "mere accountants." We could not agree more. Because while we, too, like to see our bank statements online, we believe that true advancement for entities in the banking space lies in allowing customers to truly interact the way they do everywhere else on the Internet.