Looks like Mint (review by VentureBeat) launched today, “The free, automatic, online way to manage your money”. When I first ran across this app a while back while it was in closed beta, I was confused at first, because of another web app of the same name which does site analytics. Naming makes more sense for Mint.com though…
Looks awesome. Even the sign up page is slick. Although right now, it’s quite slow (I tried signing up my checking and savings accounts… and it still hasn’t gone through). But who can blame them? It’s the launch date.
Actually… I can’t connect to my accounts at all.
I haven’t used it yet enough to really see the benefit to this web app, but if it does what it promises well… I’ll be using it daily, no question. I don’t like having to open up Google Docs and inputting my expenses for the day, and doing for something I used my credit card for.
Of course, all this would be pointless if the banks got off their butts and improved their online banking. (I’m impressed with how Chase is doing, but it still needs to get better.)
The entire point of this post is… where’s the money? How do they make money on this service? I can’t figure it out. I do see a portion of a site that could potentially bring some kind of profit by giving people the ability to change their credit card or checking accounts (to “Save Money”). Some kind of referral system, I think. I’m sure they’ve got something up their sleeves, but I’m just really curious.
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