Is sharing our data a good idea?
Social money and the smart home are examples of our data being used for good
Hey everyone, hope your week is already off to a great start! We’re still riding high from the weekend since the team finally got some time off for some rest and recovery. This week’s all about releasing, testing, and improving!
🚀 Reconcile Updates & Asks 🚀
We’re gearing up for some updates to our website and marketing strategy, and we could use a bit of help!
If you know of a great digital marketer with experience scaling early-stage startups, we would love an intro!
Also, we’re looking to develop a “movie trailer” for our product demo so that we can better explain how Reconcile will change the way we manage our money. We’re looking to work with young, underrepresented creatives that are looking to build their portfolio. If this sounds like someone you know, intro us, please!
Thanks again for leaving us some great feedback on our survey. Here were some of the common topics we collected: how to grow my money, how much to save, how do I open an IRA, what expenses of mine are tax-deductible. If you want to add another topic to this list, drop us your question here. It’ll take all of five seconds!
🤑 Fintech Finds 🤑
In recent years, the concept of being open and social with your money has taken off. Apps like Venmo or Status Money incorporate a social element into the experience to gamify sharing stories or factoids about your money. And there are countless Reddit and Twitter threads about properly managing your money. Growing up, I always found talking about money to be quite taboo, but now, it seems like we all appreciate a crowdsourced approach to compare ourselves against peers and to get the best, free advice. A new company called Moneymail.ai is looking to capitalize on this trend by enabling social communities to monetize with digital currencies and digital goods. Check out their manifesto here.
We’ve explored the concept of social sharing internally but still aren’t sure if we should incorporate that feature. I’ve created an anonymous poll on Twitter to get some more feedback - can you take a quick five seconds to share your thoughts?
NAB or National Australia Bank recently outlined its approach to configuring microservices into its mobile app so that users can have integrated financial management experiences. So instead of requiring multiple apps for different features, a user can use the NAB app instead, which will house all of the features as third-party microservices. Technical challenges aside, this is a fantastic idea as more banking apps turn into a “super-app” so that users can have a unified and frictionless experience while managing their money. We’ve been exploring a similar approach in our long-term roadmap to incorporate third-party services like canceling subscriptions, tracking invoices, or filing taxes all within our voice assistant so that you can simply breeze through your admin with a 10-second experience. Read more about NAB’s initiative here.
🤖 Voice Tech Finds 🤖
Amazon held its fall product launch last week and the Alexa wizards certainly didn’t disappoint. In fact, the Alexa team doubled down to take over more of the smart home market. While many will growl at Amazon’s increasing influence on our lives, it continues to deliver unique, helpful, and exciting products and services. For example, it’s recent Care Hub program lets family members monitor each other with an Alexa-enabled device. It also released an at-home, surveillance drone that pairs with the Ring Cam to fly automatically around your home. Personally, I’ve found that as long as users are compensated fairly for their data, we shouldn’t mind giving up some of it to improve our quality of life. Read more about the rest of Amazon’s product launch here.We believe if we're giving up our privacy, we should at least be compensated fairly ... why can't there be a royalty fee every time our data is used to train a model?
Daniel Newman @danielnewmanUVA lot of talk about #Privacy today. I am guessing this will be a hot topic of debate... #amazondevices https://t.co/fdgXjhuHs3
I was fortunate to learn about conversational design from Greg Bennett, a Principal in Conversational Design at Salesforce. Here’s a thread on his top tips.
Thanks for reading!
Jaimin Desai - CEO & Co-Founder of Reconcile
P.S. If you appreciate these newsletters and want to help us develop more content, we’re looking to bring a marketing lead onto the team. Reach out if you’re interested! Otherwise, would love it if you could help spread the word and share your favorite newsletter!!!