Moven: New Mobile Banking App
At Finovate in London, banking and budgeting startup Moven gave people a glimpse at what its app and Web products look like as Moven gears up for a February 25 closed beta release. The New York-based company, which has $2.4 million in seed funding and was until recently called Movenbank, is one of a few startups trying to transform banking and drag it into the mobile age. It is starting with the launch of a spending-awareness tool that tracks all your purchases and provides you feedback on your spending habits.
Moven’s goal is to be mobile-only...
It provides users with an RFID-enabled sticker for their phones, which can then be touched against an in-store MasterCard payment console to register purchases. However, the startup also issues users with a plastic card with a magnetic strip – just like a regular credit card – for times when the tap-to-pay option isn’t available.
In 2011 the mobile banking application Movenbank (now know as Moven) was founded by King and Alex Sion. In July 2012 Moven raised an initial $2.4m of seed money the Beta version went live in February 2013. Moven was named "Best in Show" at Finovate 2013 in London. Moven raised a Series A investment round of $8m for product development and international expansion in July of 2014.-Wikipedia