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MyMoney [SMART 100, 2016]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

MyMoney came to life over the years when we attempted to search for solutions and products that allowed us to manage existing products search for new or better offerings. The products are always broken down by retail and business. We realized a very fine line between the needs of business and individuals so we designed a product range and brand under MyMoney that provided tools to help manage an individual that was in many cases the same person that was the owner of the small business. We provided a suite of products called MyMoney.

2. WHAT & HOW

The purpose of this innovation is to…

Provide a suite of solutions that allows the individual to become knowledgeable on services and products. We provided our solution to allow a continuum to exist between DIY, Do It With Me and Do It For Me.

It does this by…

Providing suite of tools to search, manage and educate for new and existing financial products, By providing tools to manage new ideas, new innovations, or manage existing business operations for the individual or business. We provide a suite of business template to help with the thinking but allow full customisation of the forms to allow flexibility and stimulate thinking.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

Our solution suite enabled the individual and business not only to search for information but now able to interact with the information by seeking new services manage existing. This included managing existing or new service providers, seeking input on ideas, establishing thought centres and testing new opportunities. The central place created to allow this interaction.

Its various benefits to the customer/end-user include…

The benefits include cost effectiveness, online interaction of chat, downloads and formatted templates, in addition we provide the ability to share the information that allows the user to seek external input, the flexibility, transparency and ease of identification of brand.

In the past, this problem was solved by…

Using an adviser. broker, planner, accountant to do the work for you called Do It For Me, alternatively you would have to search and find and manage and Do It Yourself. Our solution suite provides a mix of the two extremes that provides Do It With Me.

Its predecessors/competitors include…

Our competitors include ratecity, iselect, yourshare, investsmart, maus, word templates and accountants, advisers, business brokers, banks, business centres and many other groups that provide advice.

5. TARGET MARKET

It is made for…

Our product solution suite is for the small and medium business that has less than 10 staff although can be used for any size company. As the SME number is large, all of the owners have to manage multiple tasks, we provide the solution to look for new financial service products, manage existing, help test ideas, manage risk and provide a road map of what has happened and what they project and forecast. Our approach is to provide solutions that compliment the business, advisers, accountants, bankers.

It is available for sale through…

Our distribution is currently direct via the internet. We see this as important as it allows efficiency but also due to the cost effectiveness of the channel and reach.

Our marketing strategy is to…

Our marketing will be through entering many technology and innovation awards as we can undertake, to provide white papers on ideas for individuals and business, to utilise social media through awareness of what we are about. We will also seek to establish distribution arrangements through consultants and accountants as resources become available.

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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