NeoSaej, an online auction marketplaces and developer of MoneyAisle.com, the Web site where banks bid for customers through live secure auctions, announces the Massachusetts Bankers Association (MBA) has endorsed the program.
The endorsement is a testament to the benefits banks receive from participating in the MoneyAisle network. Over fifteen Massachusetts banks, including Beverly National, Stoneham Bank, and Washington Savings, are active members of the network already, which includes more than 100 banks from across the country.
“It is important for the banking industry to advance new technology and respond to changing consumer behaviors,” says Daniel J. Forte, president and CEO of the MBA. “MoneyAisle not only enables banks to connect with new customers, but also provides a progressive, alternative for banks to offer their services. We are pleased to champion this service and its benefits to our members.”
The endorsement, coming shortly after neoSaej’s announcement of a strategic alliance with the Michigan Bankers Association, further solidifies the benefits neoSaej’s technology brings to the banking world and sets a precedent for other banks and associations throughout the United States. As part of the endorsement the MBA will introduce banks from across the state to the benefits of the MoneyAisle auction experience. At the center of MoneyAisle’s services is its seller automated engine, or SAEJ, which allows banks to adjust rates in real time and set customer parameters to drive new business.
“Having our hometown association, one of the leading associations across the country, stand behind MoneyAisle is an honor and validation of our services,” says Mukesh Chatter, president and CEO of neoSaej. “At the end of the day it is not only the banks, but the consumers who benefit from these relationships, as well. As we grow our network, it is our relationship with banking associations like the MBA that will help us meet the needs of banks and consumers alike.”