September 27, 2012

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Bank of Utah Implements MoneyDesktop

Press Release

September 27, 2012

Bank of Utah jumped ahead of the curve to provide its customers with one of the most robust online banking experiences that modern technology allows. The locally-owned community bank recently introduced a new Personal Financial Management service powered by MoneyDesktop that is free to its online banking customers. The online platform serves as a one-stop financial hub for its users.

Bank of Utah’s new Personal Financial Management service securely aggregates all of a customer’s accounts from various institutions (not just Bank of Utah), and provides powerful tools for expense tracking, budget creation, debt management and financial reporting, and a personal “guide me” function.

“Bank of Utah is very excited to be the first in the state to offer this cutting-edge technology that gathers basic financial information from all of our customer’s different financial accounts, including 401ks, IRAs, and brokerage accounts, and organizes it into one place,” said Craig Roper, Bank of Utah senior vice president and chief deposit officer.

“People commonly have a checking account and credit card from one bank and perhaps various retail store or national credit cards. Having financial information separated in multiple websites makes it more difficult to clearly understand all of your finances,” explained Roper. “Bank of Utah customers are now able to easily track their spending from their various financial accounts, create a budget, and plan how to eliminate their debt.

“Our ultimate goal is to help our customers grow their wealth so they have money when they need it without creating unmanageable debt,” added Roper. “Our new online Personal Financial Management service is the only tool that brings it all together to help our customers make that happen.”

Scott H. Parkinson, Bank of Utah’s senior vice president of marketing and communication said, “The new generation of bank customers increasingly expects and demands customized services that are accessible through tablets, laptops and smart phones. This new best-of-class, robust, intuitive and secure system gives this technically savvy, but less financially literate generation exactly what they want and need to manage their money.”

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