In November 2011, launched a new free online project called SaveUp, which offers additional benefits to all users who register on the site, to track and manage their own costs. Unlike many other loyalty programs that encourage their members to spend more, financial project SaveUp provides a pleasant and profitable bonuses depending on how many participants were able to save the project. In fact it is a new concept, in which users are rewarded for making informed financial decisions.
"Our project is designed to reform the financial behavior of the users. It gives people the opportunity to receive additional income from their savings and give them a chance to take another look at financial planning, "- says the co-founder and president of SaveUp Priya Haji (Priya Haji). Site users learn to save money, pay credit card debt, loans to purchase a car or pay for a mortgage and accumulating points earned for it.
These points can be paid gift cards from partner web project for the budget SaveUp or spend it on games on the site, which you can win extra points. The whole process is as simple and evokes positive emotions in people, and the proposals are diverse. The very same financial plan as a whole contributes to the financial responsibility and literacy of consumers.
"We, on the one hand, we use common behavioral incentives, but on the other hand, we try to wrap them for the benefit of the people," - said Haji. The company, which operates in the state of only 11 employees, has received $ 2 million in funding from venture funds BlueRun Ventures and True Ventures.
According to the owner of the financial project, they got two millionth "Grand Prix", thanks to the idea, which prompted their premium bond - savings and investment program, which exists in the UK.
Under this program, families are able to make quite a large sum of cash for its economy. The downside of this program is the fact that the income from the investment of investors included in the sum with which the revenue is recognized. But even under these conditions every three British family would not mind to take part in the program.
Participants SaveUp Internet project for the budget, which is based in San Francisco, earn interest on their savings for a similar scheme and, in addition, can win great prizes for their accumulated points from gift certificates retail stores and consumer electronics to travel to Hawaii or pay teaching at a private college. Binding of bank accounts and credit cards to the participants of the project site is, the assurances of developers, quickly and safely.
Internet project for the budget SaveUp has three sources of funding. The first and most important at the moment - sponsorship of major brands such as Virgin America, GameStop and Banana Republic, whose products are offered for the user site as gifts and rewards. In addition, the financial project SaveUp gets paid for recommending visitors use the services of certain financial institutions. The third source of revenue - is a partnership program with major financial institutions (for example, Bank of the West), which have their own customized version SaveUp. Only one Bank of the West is more than five million depositors.
Its first financial project World of Good («World Product") sold Hija eBay. It was a marketplace in which small producers and artisans from around the world can sell their products, which, in turn, contributes to the support of local business. Cooperation with eBay made Haji, as she said, to focus on the question of how to use the Internet project SaveUp an efficient and able to expand the business model that has in it a positive experience.
Financial services, as it turns out, has long been willing to innovate and needs them. "Doing business in digital technology - it's very exciting" - sure Hija. And for most Americans, the idea of low-cost came in handy.
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