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Waspit Sets Benchmark For Engagement Banking

New Student Focused UX Powers Frictionless Convergence of Payments, Commerce and PFM


News provided by

Waspit, Inc.

May 29, 2013, 09:59 ET

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NEW YORK, May 29, 2013 /PRNewswire/ -- Today, Waspit Group, Inc. announced its new customer driven UX (user experience) and mobile Apps will officially be released to the market in August to coincide with the commencement of the new academic year.

(Photo: http://photos.prnewswire.com/prnh/20130529/NY22220 )

"Rapid changes in consumer behavior, technology and social communications are driving an explosive 'digital ecosystem' for multi-channel commerce," said Richard Steggall, Founder and CEO, of Waspit.  "Banks, and in particular payment providers, play an essential role in this, yet there seems to be a fundamental gap between the 'financial' solutions banks currently provide, and the 'non-financial' solutions users now expect."

With its new enhanced UX, Waspit becomes the first intelligent multi-channel banking alternative to seamlessly bring the digital ecosystem into a single user experience, blurring the line between the physical and digital worlds of commerce.

Since unveiling its social banking platform for students in October 2012, Waspit has been working closely with its beta clients in designing the new UX.   Its unique and markedly customer-driven experience now enables frictionless financial and non-financial transactions – comprising share, search, discover, payments and finance solutions.

The new UI allows users to be in control of their interface, using simple drag-and-drop applications to customize a solution for their own lifestyle.  This is complemented with mobile apps that allow users to do what they want, when they want, and where they want when it comes to commerce and money.

Waspit revealed details of the new UI on its website (www.waspit.me) today, demonstrating a host of innovative user features.  "Times are rapidly changing," said Steggall.  "It is no longer about delivering new form factors or trying to shift an 'online' application into a 'mobile' app.  It is about providing a highly customized and relevant user experience."

Waspit considers its platform as a way to maintain a dialogue with its users.  Its predictive algorithms, which look at a user's spending, search, location, and financial management objectives, allow it to subtly present very precise suggestions to users on offers relevant to their individual lifestyle, or matters relating to their personal financial management (PFM).  The ultimate objective is to deliver fun, savings, and convenience to the user.

Waspit already has deep integration with major social and review sites, in addition to over 220 commerce sites across North America, allowing users to benefit from broad and multi-channel platforms in one experience.

According to Steggall, "The capabilities of this platform are not its functions, its apps, or its features – it's the experience it creates for our users – it's Engagement Banking!  In giving our users what they want, we naturally benefit from increased transaction velocities, transaction values and ultimately the life time value of our users."

About Waspit

Waspit is the first 'student focused' multi-channel engagement banking platform to seamlessly bring the digital ecosystem into a single user experience, blurring the line between the physical and digital worlds of commerce. It combines traditional banking features with deep social media integration and, multi-channel commerce, allowing for a more intuitive and enriched user experience.  The platform, inclusive of its personal financial management tools, fosters fiscal responsibilities and prevents users from ever getting into an overdraft position.  Some of the features include split-the-bill, money transfer, auto Foursquare and Facebook check-in capabilities, deals, reviews, and Waspit's unique Thumbscore rating system. For more information, visit Waspit.me.

Contact:   

Jason Solomon


[email protected]


R.C. Auletta and Company


(212) 355-0400

SOURCE Waspit, Inc.

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