Friday, September 21, 2012

Treasury, Facebook and Google Involved in Money App Design Promotion

Bob English emails:
Fait acompli...payments system is going to get a major overhaul. Facebook is an insider.
So is Google.

From a Treasury press release(my bold):
The U.S. Department of the Treasury (Treasury), the D2D Fund (D2D), and the Center for Financial Services Innovation (CFSI) today announced the eight finalists for the App Design portion of the MyMoneyAppUp Challenge, a contest offering cash prizes and recognition for the best mobile app ideas and designs to help Americans make smart financial choices, access high quality financial products and services, and ultimately control and shape their financial futures...
"Smart money choices," oh yeah. Choices that will track every purchase you make and ultimately attempt to control what you buy (Though the attempt will fail).

The release goes on:
From these eight finalists, the panel of expert judges will select a Grand Prize Winner, to be awarded $10,000.  Additionally, two Runners-Up will win $5,000 each and two Honorable Mentions will win $2,500 each.  
The panel of expert judges includes: 
  • Chris Bishko—Bishko leads Omidyar Network’s investments in U.S. technology-enabled financial services companies.
  • Jean Chatzky—Chatzky is an award-winning personal finance journalist, best-selling author, and television personality who specializes in making money make sense.
  • Sendhil Mullainathan—Mullainathan is a Professor of Economics at Harvard University and founder of ideas42, a non-profit behavioral economics ideas lab devoted to turning insights about people from behavioral economics into policies, interventions, and products that solve some of the world toughest problems.
  • Carol Realini—Realini is a globally-recognized banking innovator and mobile payment pioneer as well as a successful serial entrepreneur, author, and board member.  She is passionate about the potential of mobile to enable financial services that empower people’s life and work.
  • Jennifer Taylor—Taylor leads the product marketing platform team for Facebook.  Before Facebook, Taylor was Senior Director of Product Management for Rich Media Solutions at Adobe. 
  • Jonathan Weiner—Weiner is a recognized leader and proven entrepreneur with a consistent track record of creating and managing successful business ventures.  He is currently working on business development and payments at Google.

 To view the App Design finalists’ submissions, visit

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