Magazine article American Banker

Manilla's Coupon Organizer May Be Great Deal for Banks

Magazine article American Banker

Manilla's Coupon Organizer May Be Great Deal for Banks

Article excerpt

Byline: Jeremy Quittner

The Groupon daily-deal craze allows financially savvy consumers to save money with merchants they frequent, but it has so far had little to do with banks. A third-party e-billing provider may change that, setting an example by which banks could become the best value to their most coupon-obsessed customers.

Manilla Inc. said Wednesday it would allow consumers to manage their daily deals through online financial management tools, much like many consumers already manage their upcoming bills.

Providers like Groupon Inc. and LivingSocial sell coupons that provide deep savings to the consumers that buy them, but which expire without the option for a refund if the coupons go unused. LivingSocial, for example, recently let shoppers at Whole Foods Market buy a $20 credit at the store for $10, but the money is wasted if the credit is not used by Dec. 13.

From its launch, Manilla has sought to distinguish itself from other financial management and document storage sites by providing more information than just credit card and utility bill due dates. For example, it allows billers to create dynamic Web ads to show within bills. It also provides information on less-frequent financial obligations, such as magazine renewals.

Manilla's update, which allows users to see when their daily-deal coupons are about to expire, meshes with the goals set by banks when they offer financial management tools, experts say.

"Having a central place to manage and compare, and see what coupons you have and can use is potentially very useful," says Ron Shevlin, a senior analyst at Aite Group LLC of Boston. …

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