Perfectsen gives Malaysian Maybank customers new way to manage finances online
April 15, 2012 by Terence LEE
Perfectsen has launched its online financial management app M2U Planner with Maybank, Malaysia’s largest bank. The app, which allows users to track their spending and plan their budget, is fully integrated with the bank’s online banking services.
M2U Planner is now available to all Maybank customers in Malaysia. The company is in the midst of negotiating with banks in other parts of Asia.
SGE last wrote about the angel-funded company a couple of weeks ago. Like Mint, a popular money management tool from the United States, it is integrated with the banks, meaning your transactions will be automatically logged into the income or expense column of your budget.
But unlike Mint, it is reaching out to banks as distribution partners rather than marketing to consumers directly. Being a white label solution, Perfectsen is entirely invisible to banking customers.
It also promises to be more ‘intelligent’ than Mint, in the sense that the app automatically tags expenses with the right categories.
I believe there’s going to be a huge demand for something like this in Asia, since I’ve not really heard of a money management tool in the region that offers integration with the banks.
Mint has shown no indication of expanding to Asia either, which gives Perfectsen the first-mover advantage.
Screenshot of M2U Planner:
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About The Author
Terence LEE - Editor
Terence writes mainly about technology trends and startups in Asia. He believes in crafting smart content: Not just a regurgitation of text, but well thought-out pieces that serve the reader using a combination of data, design, narratives, analysis, and visual impact. His articles have been published on Venturebeat, Yahoo!, Straits Times, Today, and The Online Citizen. He also co-founded NewNation.sg, a satirical news site covering Singapore affairs. Engage him on LinkedIn and Twitter.Read other posts by Terence LEE