At Finovate, a financial-technology conference, Ideon Choice demonstrated a new platform that allows consumers to customize their own savings or investment product. Offered as a white-label solution, banks can integrate this platform into their systems to offer this level of personalization to their customers.
Bank customers can select product terms, interest rates, liquidity and source of additional potential return (such as tying the product to stock-market performance). In today’s current low-rate environment, the ability to customize your own savings account or certificate of deposit may encourage consumers to save, and generate higher returns compared to traditional deposit products.
Ideon’s CHOICE model is currently still in development and expected to launch in the second quarter of 2013.