Re: Interesting concept
mInvestor
8/5/2012 6:23:09 PM
Street Smart,
That's a good way to put it. I guess Movenbank is not for everyone.
Re: Interesting concept, but
tokyogai
7/30/2012 4:10:02 PM
Noreen- the biggest one is the Trenta. I think that is the one you should order.
I think I might feel challenged to do whatever I was warned about. "You have overspent on coffee at Starbucks" just might make me order a grande. That's the big one, isn't it?
Interesting concept, but
Value Hiker
7/25/2012 6:16:57 PM
Predicting future is a tricky business, Predicting someone's credibility is even trickier business. FICO is not perfect, it needs improvement. CRED model is an innovative idea. However, my concern here is: Based on the CRED model, my credit score could be lower than these teenage kids who spend much more time on zynga, twitter and facebook
Most of us could probably do better with our day-to-day management of expenses with some game-like messaging. Imagine this -
"You are on-track for to meet your goal of saving for your Hawaii vacation"
or
"You are over-budget on food for July. Are you sure you want to visit Dunkin Donuts again this morning?"
Re: Gamification
tokyogai
7/25/2012 12:14:48 PM
I agree. This may make some people more financially savvy.
Movenbank's most interesting idea is "Gamification"
Millions of people spend billions of hours playing video games. There is much hand-wringing about how we extract ourselves and our kids from games that don't directly help anyone in real life.
Turning this issue on it's head -- could we somehow make real-life more like video games? more addictive and fun? If we can, maybe the same energy that drives people to stay up all night playing games, could be harnessed to solve real-life problems for individuals or for society?
PC
It IS an interesting concept, but I have some Facebook friends to whom I wouldn't lend a dime, though they certainly seem prolific in posting cat pictures.
The idea gives me pause, too, because the other day I was working on several deadlines and didn't log onto Facebook the entire day. Can't remember when I've missed a day, but Klout, a social ranking service sent me a red alert e-mail informing me that my one day away had caused my score to drop by 10 points. In Movenbank World, would that mean that my loan would be pulled or my rate go up? Yikes, don't I have enough worries?
I think beta is a good place for Movenbank right now...get a little more track record with their model and see if they're weighing the right metrics.
Interesting concept
tokyogai
7/25/2012 10:14:59 AM
I like the whole idea of a more relevant way of scoring credit. Today's system seem to rely more on whether the bank thinks they can make money from the customer than whether he can really pay back the loan. The whole idea of having to have debt to get a good score rather than assets has always puzzled me. I do think Movenbank needs some plastic- such as an ATM card. Customers have to have a way to access funds.
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