LifeCounts Represents ‘Best of Breed’ in Growth of Strategic Link’s betaSpace Program

As consumers continue to live digital and physical lives in growing measure, the expansion of mobile apps continue to add bolt-on services to organize both. Apps exist to track weather, sports scores and cooking times, but also to manage finances, locate deals at local businesses and even pick a baby name.

For all that automation, many see clutter simply move to their mobile screens. The same can be said for financial accounts. Checking with one institution, savings with another. Home loan with your credit union, but an auto loan with a local dealership.

LifeCounts—from original Stategic Link betaSpace partner HowellCorp—brings those disparate accounts together in one place, allowing users to track their larger financial footprint. This year, Nicholas Howell, HowellCorp founder is looking to continue helping Northwest credit unions and their members further define that value.

“LifeCounts handles configuration and keeps the service current, at no investment from credit unions. The credit unions just need to make LifeCounts available to their members at special pricing.If they have online banking, all they have to do is “send us access to a test account, and we do the rest,” said Howell. “It’s exactly as easy as that.”

Howell also referenced the green-yellow-red health status that’s available for quick and easy glance, noting that LifeCounts mobile service acts like a virtual advisor, “traveling with you in your pocket and letting you know when your money needs your attention.” There’s more information on both at www.lifecounts.com.

How it Started

Want to learn more about LifeCounts? Click here to register for a September webinar.

There’s a famous scene from I Love Lucy where Lucy is working an assembly line at a candy factory. As the line gets faster and faster, Lucy struggles to keep up with packaging the candies. Sure enough, she ends up just eating product after hysterically failing to package them all.

That’s the most apt parallel when thinking of the totality of financial transactions managed by the average consumer today. Often, the sheer volume of transactions is large and diffuse over accounts.

“When we were putting this together, we found that people don’t want to do that,” Howell said. “Personal financial management shouldn’t be a product that you have to constantly manage, but works automatically on your behalf right after the point of sign-up.”” he continued.

Proactive Management, and Safety

Because LifeCounts brings all of a user’s accounts together in one place, it can sniff out potential fraud when other services might not. “Imagine that a member from Roseburg has a credit card used is Puyallup,” says Howell. “That might not be too strange. But if we see that they used a card from a different institution from their usual grocery store only 30 minutes earlier, we can instantly alert them to look at those transactions.”

LifeCounts can also alert users when large transactions occur, and when their account balances are lower than normal. “They might get a message saying, ‘Careful, your checking account balance just fell below $50 and we see you have some regular expenses coming up,” said Howell.

Though the proactive nature may give some credit unions and their members pause, Howell added that LifeCounts keeps a user’s data private and does not sell an individual’s information to advertisers, pointing to the company’s Security & Privacy policy on the LifeCounts website.

To learn more about the chance to become a LifeCounts Mobile launch partner, contact NWCUA Director of Strategic Partnerships Craig Reed at 206.340.4789 or creed@nwcua.org.

Posted in NWCUA, Strategic Link.