Scott McCormack - Faces of Innovation
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Scott McCormack

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Social Money (@gosocialmoney) is an Iowa-based financial products company. Their principal product is a customizable tool for financial institutions that helps their customers save for and finance their future.

Social Money?s program, GoalSaver, is ?the future of savings accounts.? GoalSaver was developed for financial institutions to integrate into their current systems. GoalSaver helps people manage their finances by setting goals, viewing a stream of relevant articles and viewing anonymous streams of the deposits of other GoalSaver users to see how they are currently saving their money. GoalSaver also has a sharing option that lets users post their progress on reaching their goals to social media sites like Facebook, Twitter, and Google+. This can be especially useful for companies who wish to show off which project they are currently working on and give their audience an idea of what is to come.

Online banking has revolutionized how people can control their money. People can update their finances and financial goals on a daily basis without visiting their bank. Without broadband Internet, programs like GoalSaver would not be able to help people plan their financial future.