Massachusetts Bankers Association Endorses neoSaej Program
August 5, 2008
MoneyAisle.com Provides Area Banks with Competitive Edge and Access to New Customers
Burlington, Mass. – neoSaej, a leader in online auction marketplaces and developer of MoneyAisle.com, the first and only Web site where banks actively bid for customers through live secure auctions, today announced the Massachusetts Bankers Association (MBA) has endorsed the program. The endorsement is a testament to the benefits banks receive from participating in the MoneyAisle network and acquiring new customers for certificates of deposit (CDs) and high-yield savings accounts in an innovative, cost-efficient way. Over fifteen Massachusetts banks, including Beverly National, Stoneham Bank, and Washington Savings, are active members of the network already, which includes more than 100 banks from across the country.
"It is important for the banking industry to advance new technology and respond to changing consumer behaviors," said Daniel J. Forte, President and CEO of the MBA. "MoneyAisle not only enables banks to connect with new customers, but also provides a progressive, alternative for banks to offer their services. We are pleased to champion this service and its benefits to our members."
The endorsement, coming shortly after neoSaej's announcement of a strategic alliance with the Michigan Bankers Association, further solidifies the benefits neoSaej's technology brings to the banking world and sets a precedent for other banks and associations throughout the United States. As part of the endorsement the MBA will introduce banks from across the state to the benefits of the MoneyAisle auction experience. At the center of MoneyAisle's services is its seller automated engine, or SAEJ, which allows banks to adjust rates in real time and set customer parameters to drive new business. These are key benefits, enabling banks to raise deposits and target customers in a new and innovative way and be competitive 24 hours a day on rates.
"Having our hometown association, one of the leading associations across the country, stand behind MoneyAisle is an honor and validation of our services," said Mukesh Chatter, president and CEO of neoSaej. "At the end of the day it is not only the banks, but the consumers who benefit from these relationships, as well. As we grow our network, it is our relationship with banking associations like the MBA that will help us meet the needs of banks and consumers alike."
MoneyAisle's easy-to-learn, fully automated software provides banks with access to a large addressable market of potential new customers within their own state as well as across the United States. Devoid of expensive advertising and cost-per-click based lead generation methods, such as those popularized by search engines, MoneyAisle's fees are success-based - banks only pay a small fee when a new customer is acquired. The neoSaej technology which powers MoneyAisle gives banks the ability to target where, when, and how much money they need to raise when seeking out new customers. Through this, MoneyAisle levels the playing field, providing every bank with an equal opportunity to compete for customers locally as well as nationwide.
Please visit the MoneyAisle site at www.moneyaisle.com to run a free, live auction. MoneyAisle has also launched a consumer blog at blog.moneyaisle.com.
About Massachusetts Bankers Association
The Massachusetts Bankers Association represents approximately 200 commercial, savings, co-operative banks, and savings and loan institutions in Massachusetts and elsewhere in New England.
Together, their member banks manage an aggregate $1.8 trillion in assets.
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. MoneyAisle is the only online auction marketplace which lifts the buyer's burden by providing free, on-demand live auctions which consumers can watch unfold in real time.
###
Media Contact:
Kevin Cafferty
781-272-1774 ext. 248
mediarelations@neoSaej.com