The NetBanker blog has a great post discussing online personal finance solutions for their upcoming Finovate 2007 conference. The 2 profiled companies are Jwaala and Mint. This is an interesting comparison as both companies approach the solution in completely different ways.

Mint provides a straight to consumer site for doing basic things like categorizing your spending and aggregating accounts. Mint completely bypasses, (dis-intermediates if you like big words), the financial institution. The end result is that the financial institution looses the “eyeballs” of their own customers! This gives Mint the opportunity to basically promote products and services to the financial institution’s customers, and boy to they take advantage of that in a big BIG way. Mint basically encourages their users to switch their checking, savings, and credit accounts to competitive financial institutions. This spells big big trouble for financial institutions.

Jwaala on the other hand focuses on providing personal financial solutions that help the banks and credit unions. Our MoneyTracker product is branded for the bank or credit union, has the same URL as the bank or credit union, and works seamlessly with the bank or credit unions existing online banking. It’s a different approach, but one that does not put the financial institutions on the defensive.

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