Michigan Bankers Association Aligns with neoSaej
July 8, 2008
Banks in Great Lake State Achieve Success Acquiring New Customers Through MoneyAisle
Burlington, Mass. – neoSaej, a leader in online auction marketplaces and developer of MoneyAisle.com, the first and only Web site where banks competitively bid for customers through live secure auctions, today announced a strategic alliance with the Michigan Bankers Association (MBA). The alliance is expected to increase the number of banks in MoneyAisle's growing network and benefit consumers shopping for the best rates on certificates of deposits and high-yield savings accounts.
"MoneyAisle is one of the first major banking innovations we have seen in a long time. From the moment I saw MoneyAisle's capabilities I knew this was a tool that our banks needed to immediately hear about," said Larry Sauter, President and CEO of the MBA Service Corporation. "With today's challenging economy, both banks and customers need tools to help get a leg up and make the most of investments."
The alliance will benefit small and mid-sized Michigan banks by allowing them to compete for customers throughout the United States while keeping acquisition costs at a minimum. As part of the MoneyAisle auction experience, banks can adjust rates in real time and set customer parameters to drive new business. These are key benefits, enabling banks to target customers in a new and innovative way and be competitive 24 hours a day on rates.
MoneyAisle is the only free consumer Web site where sellers actively bid for each unique buyer in real-time. Auctions can be initiated at any time, 24/7, and the best available rate among participating banks is provided in just a couple of minutes. This innovative model, powered by neoSaej's patent-pending technology, conducts competitive shopping on behalf of the consumer and shifts the buyer's burden to find the best rates onto the sellers.
"Aligning with bank associations like Michigan's helps us reach new banks more efficiently," said Mukesh Chatter, president and CEO of neoSaej. "Having the support of the MBA and other associations will greatly benefit the consumer as well. neoSaej's open and reciprocating relationship with state banker associations establishes a diverse and dynamic network of banks, which is to the consumers' advantage."
The MBA is expected to be the first of several forthcoming bank association alliances for neoSaej. To date, 17 of the 72 banks in the MoneyAisle network are located in Michigan. The MBA will work with neoSaej to introduce banks into the MoneyAisle network and ensure the banks are utilizing MoneyAisle to its fullest extent.
Please visit the MoneyAisle site at www.moneyaisle.com to test drive a live auction. MoneyAisle has also launched a consumer blog at blog.moneyaisle.com.
About Michigan Bankers Association
The Michigan Bankers Association (MBA) is the voice of the Michigan banking industry. Comprised of Michigan financial institutions with more than 2,400 branches located throughout the state, the MBA promotes strong communities and economic activity in Michigan by advancing a positive business environment.
About neoSaej, Corp.
neoSaej is a leading developer of online auction marketplaces focused on utilizing the advantages of the Web to empower consumers. MoneyAisle, neoSaej's first marketplace, provides consumers with great rates on CDs and high-yield savings accounts.
About MoneyAisle
MoneyAisle is the next-generation e-commerce auction marketplace that provides consumers with great rates on CDs and high-yield savings accounts while helping banks efficiently attract new customers. MoneyAisle's methodology is simple: banks competitively bid for every customer in live auctions. neoSaej's patent-pending MoneyAisle technology creates a safe platform for consumers to secure great deals on financial services and products. You can watch your auction unfold in real time. Unlike other online auction marketplaces, MoneyAisle lifts the buyer's burden by providing free on-demand live auctions.
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Media Contact:
Kevin Cafferty
781-272-1774 ext. 248
mediarelations@neoSaej.com