Founded 2011 | ||
Movenbank is a mobile financial service provider operating in the United States. Movenbank was founded in 2011. by Brett King, author of Bank 2.0 and Bank 3.0. Movenbank's mobile payments system relies on NFC technology, available via contact stickers placed on users' mobile devices. Movenbank's current product offerings allow users to track their financial wellness using Movenbank's proprietary tools: CRED Score, MoneyPulse and MoneyPath, and a financial personality test. Movenbank launched its mobile banking and mobile payment services in 2013.
Contents
- Brett king how movenbank is changing the face of mobile banking
- Organization funding
- Technology
- Cards
- References
Because of its unusual approach to banking, Movenbank has been featured in American Banker, BetaKit, BRW, and PSFK
Brett king how movenbank is changing the face of mobile banking
Organization & funding
In August 2012, Movenbank announced that it had closed a $2.4million seed investment round, funded by Movenbank's founders, Anthemis Group, Raptor Ventures, Kevin Plank (CEO of Under Armour), and a syndicate of Singaporean investors. In 2013, a Russian company Life.SREDA invested $2 million in the Movenbank.
In September 2012, Movenbank announced that Alex Sion, Ex-Vice President at Citigroup, would be joining the organization as President.
Technology
Movenbank's payment system uses NFC (Near Field Communication) technology in the form of a sticker placed on the user's smartphone. This sticker will allow users to pay for goods and services in the United States where MasterCard is accepted.
Cards
Because of regulations, Movenbank may have to offer cards as well.