Money Dashboard launches its bid to become the Mint for the UK

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Money Dashboard, which is shooting to become the for the UK, launched its open beta today. It appeared as a closed Beta in October, which, they say, was “massively over-subscribed”. The site recently completed a funding round, securing £1 million of investment via a consortium of investors.

It also has a lot less competition now that main competitor, Kublax, deadpooled this February.

Like Mint, the point of the site is to allow people to track and analyse their finances by aggregating bank accounts, tagging transactions and using budgeting tools.

As part of the launch, announced at TechCrunch Edinburgh, a number of new features have been released including ‘Ways to Save’ pages. These will, in theory, help monetise the platform by featuring affiliate offers for financial products. Other new features include email alerts to let users know when they are nearing their spending limit in defined categories and to help avoid over draft charges.

Money Dashboard will have a fair wind. Some 75 percent of UK consumers are using online banking, up from 54 percent in 2005 according to the British Banking Association.

It’s worth remembering that the site is in fact powered by the same underlying financial tools provider as Mint, which is Yodlee, a US-based provider of personal finance management and payments solutions. As it’s been pointed out before, Mint was Yodlee’s Youtube in the same way that Youtube was the interface to Flash video which made a lot more than Adobe out of Flash. Yodlee is of course getting paid.

The startup was founded by Gavin Littlejohn in 2006 and includes non-executive chairman Stuart Sinclair, former CEO of Tesco Personal Finance and David Robinson, founder and former CEO of Bright Grey.

  • PaulN

    It seems MoneyDashboard require Microsoft Silverlight. That is just taking the piss.

    • Vineet

      SL is fine , I think its ok to have it on your browser not a big deal … atleast it makes for some fancy viewing

      • code

        i would recommend having a look at your cpu usage while on moneydashboard before you say using SL is “fine”.

        in my experience it was consistently in the 80%+ range.

        their silverlight interface just EATS ram and cpu cycles.

        gimme a nice light standards based interface any day.

      • Northerngeek

        In this circumstance I’d agree that a light standard based UI would be optimal, this site is too much flash and too little substance from a UI standpoint.

        However there are good examples for Silverlight on the web, and in general if theres a reason behind it I don’t mind having my CPU used, that’s what it’s there for.

      • Harry

        Nah – i really like the look of this, signed up and used this service – it was slow, tried to show all it’s data in a window 700×400 pixels and crashed most times i tried to type something.

        Anyone who thinks this sort of app should be built in something like silverlight is (a) nuts and (b) will regret it every single day until they change it to HTML. i couldn’t care less what silverlight enables you to do – it removes a load of basic usability for this kind of app and nothing i saw required it to built wholesale in silverlight.

        i gather silverlight is used due to the funding they received from MS or something – a real shame.

  • dave

    signed up.. seems good so far minus the fact you need silverlight :D

  • Daryl

    The clues to the reason Silverlight is used can be found at the end of para 2 of their About Us page at :
    “…in 2008 Microsoft took Money Dashboard onto its Biz Spark accelerator programme”.

    I wonder, if they get sufficient traction, whether they’ll ditch that technology and use something more mainstream ;)

  • Northerngeek

    I don’t mind the Silverlight usage, frankly Silverlight has already proved itself a worthwhile addition to my browser (come on people, many rave about extensions for simple things such as media control, at least SL is browsing related!)

    Hope this one stays afloat, Kublax went down a week after I signed up, very disappointed. I would pay to use a site with a decent interface, they shouldn’t have to seek funding, I’d give £5 for a membership easily (perhaps that’s why I need a finance tool!)

  • code

    ive used moneydashboard, kublax and and personally found money dashboard interface (and bank support – none of mine worked) to be absolutely hideous and a complete ballache to use.

    ive been using’s online banking for the last 4 or 5 months and it absolutely shits all over the moneydashboard product in almost every respect.

    good job talking up a crap site tho, you almost make it sound good.

    • Northerngeek

      Thank you Code for recommending, after my intial comment above yours I looked at moneydashboard and I too found the UI hopeless (so disappointing!).

      I’ve only tinkered with love money for a couple of minutes but it seems rather nice.

  • Lol

    Just tried this out today, but just *cannot* get it to accept the details from my banks account (First Direct) despite checking the details 3 times and adding and deleting it at least 10 times over. So sadly, I can’t comment on how good I think the product is .

  • Mike Stenhouse

    After signing up they’ve sent me my password in a plain text email and directed me to a sign up form that appears to require Silverlight, which isn’t supported in my browser. Um.

  • James

    These guys need to hire a designer from

  • Tamlyn

    Is no one else concerned about giving their online banking details to a third party? Surely that’s against all bank account T&Cs. Which means you won’t be protected against fraud on your account (whether or not it’s related to Money Dashboard).

  • Daniel Angel

    The computer misuse act (and customer apathy) killed this when Citi launched Yodlee powered account aggregation in the UK in 2000, Aussie based e-wise still run a client server service that powers First Direct Internet Banking Plus and Egg Money manager but they haven’t managed to sell it to anyone else in UK and Moneysupermarket closed their service, again no consumer appetite.

    Even if customer experience is fixed there is no customer need here – those of us with multiple accounts that we want to manage via an online dashboard are a tiny minority. Now a mobile (NOT iphone app) focussed service that fills the space left by the banks while they ponder mobilising their services, that might be something.

  • Peter Mounce

    I thought didn’t require my personal details when I sign up – all I am to them is an anonymous account number? I’m far more comfortable with that model if I am even to consider giving some third party access to my financials.

    Stopped even looking at when I saw first-name/last-name fields on the registration form.

  • liljohn

    Was really looking forward to this. Signed up, and it’s just absolutely hideous. Interface is slow and sluggish (and painful), can’t connect to 2 of my 3 accounts, miserable form-input.

    This is a great case of tail wagging the dog. They seem to have chosen a technology for fanciness while forgetting what most users want – a clutter free, fast, simple, clean and reliable interface.

    My final impression was “ugh”, and I’ve given up. Back to lovemoney which at least won’t give me migraine.

  • chipfat

    I *so* wanted Money Dashboard to be the one, especially as I was a reasonably happy user of Kublax. But Money Dashboard is just awful. When I first signed up I couldn’t get it to set a password, silverlight chewed near 100% of my CPU making the interface almost impossible to use and the ridiculous fancy pants UI is just, well, ridiculous! Why can’t I get my transactions displayed full screen? Why does it all have to be squashed into a tiny window in the middle of my screen.

    I just had an email from them saying that they’d had problems with my particular bank’s accounts and advised deleting and re-adding the details. Managed to delete, then couldn’t re-add. Then ended up with partially created accounts which wouldn’t delete. Then found that the “OK” buttons on the UI appeared to be non-responsive, then decided to trash my account altogether. I’m beginning to think the easy way is just to get all my finances move to one bank!

  • StevieB’s Shared Items – May 13, 2010

    […] Money Dashboard launches its bid to become the Mint for the UKMay 12, 2010 […]

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