"We're excited to be bringing easy and effective money and budgeting management to the iPhone platform," said Aaron Patzer, founder and CEO. "We're totally committed to giving our users access to their financial information anytime, anywhere." This iPhone app is the latest in a series of mobile features introduced by Mint.com. The service was the first to provide free SMS text message alerts of upcoming bills, low balances and bank fees on accounts at over 7,500 US financial institutions. Incoming SMS text services were added last month, allowing users to check account balances in any of their bank, credit card or investment accounts by texting BAL to MyMint (696468).
Recent Mint.com research indicated that its users had not found a mobile personal finance application that met their needs. Over 70% of active Mint.com users said they used "no mobile money management service" as of September, 2008. At the same time, over 90% of users believed that they would use a mobile Mint.com application -- with 30% saying they'd use it daily or several times per day. This level of activity would represent another breakthrough by Mint.com in bringing easy-to-understand and readily accessible personal finance information to more Americans.
The application released Friday gives users the ability to stay on top of their total financial situation, whenever and wherever they are. Once the user has created their free Mint.com account at http://www.mint.com/, they simply download the free iPhone app from iTunes to get access to:
-- Up-to-the-minute account balances for all their bank, credit card and
-- All recent transactions across all of those accounts, automatically
-- Status on spending versus personalized budgets, and cash flow.
-- Investment performance.
-- Alerts on bills due, unusually large expenses and deposits.
The application also provides exceptional data security. Not only is the application password protected, but users can disable iPhone access at any time from the Mint.com website should their phone get lost or stolen.