October 8, 2008
FOR IMMEDIATE RELEASE
Media Contact:
Martha Shaughnessy
Atomic PR for SmartyPig
415.402.0230
martha@atomicpr.com
SMARTYPIG PARTNERS WITH ANZ, TAKES “SOCIAL SAVING” GLOBAL
Online Piggy Bank to launch in Australia with SmartyPig.com.au
DES MOINES, Iowa, October 8, 2008 - SmartyPig® http://www.SmartyPig.com, the online piggy bank that helps individuals, families and organizations save for specific goals, announced today it had forged a new partnership with Australia New Zealand Banking Group Limited (ANZ) to provide innovative social savings to the next generation of its Australian banking customers with http://www.smartypig.com.au, which will launch in Australia in late October.
The partnership marks the first international expansion of SmartyPig’s patent-pending technology that offers customers a unique social saving capability - to enable friends and family to contribute to their savings goals through the SmartyPig Website or popular social networks like Facebook and MySpace.
“This is our first foray into international territory, and ANZ is a terrific partner to prove the model overseas,” said Jon Gaskell, Co-Founder of SmartyPig. “ANZ has a clear strategy regarding the introduction of distinct propositions to reach a very important, very socially plugged-in demographic. We could not be more excited to be part of this extraordinary initiative.”
SmartyPig is a new service that leverages the age-old idea of saving up for purchases before buying, while adding Web 2.0 and social networking technology to help customers reverse the “buy now, pay later” credit-card mindset. SmartyPig offers the only true banking application that is social, appealing to the next generation of banking customers while making it easier and more fun than ever to save up for specific goals. In the U.S., the site offers a highly competitive 3.90% (APY)* interest rate, and provides customers with cash boosts when a savings goal is reached from best-in-class retail partners like Amazon.com, Overstock.com, Royal Caribbean, Pottery Barn, Best Buy and Home Depot. Similar partnerships will benefit Australian customers.
ANZ Chief Executive Officer, Australia, Brian Hartzer, said, “We know that young people have unique needs when it comes to their finances. They look for simple, efficient and secure ways to manage their money and are more likely to bank online, as they are very comfortable with the technology.”
“We’re particularly excited about launching SmartyPig in Australia, as it’s a forward-thinking savings product that appeals to the tech-savvy and time-poor consumer.
“Partnering with companies like SmartyPig who can innovate and get to market rapidly helps us extend our point of difference.
“Being the first bank in Australia to introduce a savings product based on Web 2.0 and social networking technology is part of ANZ’s strategy to provide more convenient and simple banking for our customers.”
SmartyPig was created after co-founder Michael Ferrari, who had just set up a 529 college savings account for his new son, searched for a similar way to automatically save for a vacation that offered him the benefits he felt were most important: a social networking aspect, true incentives from retailers he frequents and ease of use. When he couldn’t find anything, he set out to create SmartyPig. The company has seen rapid adoption in the U.S. since its April 2008 launch.
In a September 10, 2008 Gartner Research report titled “New Retail Banking Vendors Bring Social Computing to the Savings Account,” analyst Stessa Cohen wrote: “Social computing vendors can support service differentiation and enhance relationship value, both of which retail banks sorely need and are too slow to deliver.” Cohen also noted, “Social computing vendors may also solve problems banks face in deploying new products and services - especially online - by... delivering a fun and easy-to-use customer experience - a rare achievement for banks.”
Gaskell said SmartyPig’s unique and independent financial services engine has been designed to be up and running with practically any financial institution in any country, language and currency within 90 days, and that plans for expansion into additional international territories would be unveiled within the next few months.
About SmartyPig
Headquartered in Des Moines, Iowa, SmartyPig is a simple, smart and secure way to save for a specific goal. Using groundbreaking technology and the latest in security standards, SmartyPig helps users reach their savings goals faster by allowing them to invite family and friends to contribute to their accounts, gives additional incentive boosts from top retailers who sell exactly what users are saving for and offers a competitive interest rate. SmartyPig.com is a privately-owned company which launched in April 2008. For more information visit www.SmartyPig.com. The SmartyPig site is protected by copyright and trademark laws under U.S. and international law. U.S. and international patent pending. All rights reserved. U.S. Certificate of Registration #TXU001582439.
About ANZ
ANZ is a publicly listed financial services company that has more than 6 million customers in some 30 countries across Australasia, the Pacific, Europe, Dubai, USA and Asia. ANZ is one of the largest and most successful companies in Australia, and the number one bank in New Zealand. ANZ has assets of AUD$392.6 billion. ANZ traces its origins to the Bank of Australasia, which opened its first office in Sydney in 1835.
*Annual Percentage Yield (APY) is accurate as of October 10, 2008. Rates may change at any time without prior notice. All U.S. funds are held in West Bank, member FDIC.
Visit:
SmartyPig website: http://www.SmartyPig.com
SmartyPig blog: http://blog.SmartyPig.com
801 Grand Avenue, Suite 290
Des Moines, IA 50309
Phone : 515-256-2086
Fax : 515-256-2091
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