I have always loved numbers. As a graduate, I am starting to realize how much time can be spent managing personal finances. My only responsibilities at the moment are tracking my expenses for transportation, dining out, and ensuring I have enough funds to pay my student loan on time. When I eventually land a full-time job and take on greater financial independence, there will be cell phone bills, rent, insurance, auto expenses, Netflix subscriptions, and dozens of other personal financial accounts. I am always excited to learn about new tools for managing personal finances, and Manilla caught my interest.
Many banks offer bill pay services. If you already do most of your banking and credit account management online, perhaps your system is enough. If its not, or you hate a complicated user interface, Manilla may be right for you. I should note that I have yet to sign up and test the service, so this is just a brief overview of the tool. My personal situation doesn’t really justify creating an account, but in the near future I can definitely see myself using this type of service.
Start by adding accounts. Most major financial institutions, credit card companies, airlines, and communications providers seem to be jumping on board with Manilla. The company plans to make money by charging these companies fees based on their customers participation on the site. By adding your Comcast customer number for example, Comcast no longer sends you paper statements. Their cost is reduced and Manilla would take a portion of those savings. That is the best bet at a successful revenue stream for Manilla. Advertising would just clutter the clean interface. Of course, you can sign up now and start using it for free. http://manilla.com
Read more about this recent start up: Wall Street Journal
How they plan to create revenue: http://news.cnet.com