New T8 Webware app aims to help consumers get a ‘Grip’ on financesSeptember 20, 2011 by Michael Stacy
T8 Webware today introduced a new product designed to give consumers a better understanding — or grip, as it were — of their personal financial picture.
Grip, unveiled at FinovateFall 2011, is an app that aggregates a consumers’ balance and transaction data from an unlimited number of domestic financial institutions into a single, up-to-the-minute view to help users better understand the flow of their money. (Left, screenshot of Grip from grabgrip.com)
T8 Webware, a Cedar Falls-based provider of custom-branded mobile applications, websites and personalized payment card services, designed Grip as a dynamic source of data to help guide decisions.
“Grip is not just another (personal financial manager), but alternatively a tool highly focused on real-time living rather than historical spending,” T8 Webware CEO Wade Arnold said in a press release. “It gives consumers up-to-the-minute access to recent financial activity to better understand their purchasing capabilities.”
A white label app, Grip will be distributed through financial institutions, to which it is available without any upfront costs or annual fees. Financial institutions can brand and market the application under their own unique name, allowing consumers to download it from the Apple App Store or the Android Market.
Grip’s marketing site shows off its features, such as keeping users aware of available balance, low available credit or payment due on a credit account. Screenshot from grabgrip.com.
Grip costs financial institutions 99 cents per user per month and, per the T8 Webware release, “is especially relevant for financial institutions not ready or unable to offer a native mobile banking application, giving them a viable alternative to increase customer/member loyalty and service-oriented offerings.” With Grip, participating institutions can provide customers mobile reports such as balance inquiries, transaction listings, notifications of account limitations and branch/ATM location searches.
For users, Grip provides the ability to view checking or share draft accounts, savings accounts, loans and CD’s or money markets. Additionally, users can add in multiple credit cards, ideally enabling them to see their entire money flow through the app.
“T8 Webware felt it was critical to create an aggregation system that provided a higher level of detail on a organization’s location and allows for real-time enrichment of those transactions,” Arnold (left, photo from twitter.com) said. “Grip was written from inception to provide consumers with the most holistic view of their money and to help them get a grip on their daily finances by increasing their organization and empowering them with capabilities that include bill reminders and the ability to capture receipts on the go.”