MoneyAisle, the online marketplace for banking products that we profiled shortly after its launch last June, said today that users have now put more than $100 million into certificates of deposit and high-yield savings accounts via the company’s reverse-auction system, in which banks submit competing bids for potential customers’ business. MoneyAisle CEO Mukesh Chatter said the company’s ability to reach the $100 million milestone in just a few months was in part a reflection of the economic downturn and consumers’ search for investments with less risk than the stock market. “Tripling our deposits from the previous quarter shows that consumers are looking to invest their money in a safe FDIC-insured growth account from a trusted source,” Chatter said in a statement.
Author: Wade Roush
Between 2007 and 2014, I was a staff editor for Xconomy in Boston and San Francisco.
Since 2008 I've been writing a weekly opinion/review column called VOX: The Voice of Xperience. (From 2008 to 2013 the column was known as World Wide Wade.)
I've been writing about science and technology professionally since 1994. Before joining Xconomy in 2007, I was a staff member at MIT’s Technology Review from 2001 to 2006, serving as senior editor, San Francisco bureau chief, and executive editor of TechnologyReview.com. Before that, I was the Boston bureau reporter for Science, managing editor of supercomputing publications at NASA Ames Research Center, and Web editor at e-book pioneer NuvoMedia.
I have a B.A. in the history of science from Harvard College and a PhD in the history and social study of science and technology from MIT. I've published articles in Science, Technology Review, IEEE Spectrum, Encyclopaedia Brittanica, Technology and Culture, Alaska Airlines Magazine, and World Business, and I've been a guest of NPR, CNN, CNBC, NECN, WGBH and the PBS NewsHour. I'm a frequent conference participant and enjoy opportunities to moderate panel discussions and on-stage chats.
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