Guiding consumers since 2009

Justmoney.co.za kickstarts sales of personal finance products online

By Staff Writer

 

From BIZCOMMUNITY.com

October 19 2007

Issued by Habari Media

Justmoney.co.za, which has been launched to the market by Habari Media, lets consumers compare the cost of products including bank accounts, credit cards, mortgages, personal loans and insurance, enabling them to ‘shop-around' for cheaper deals.

Importantly, consumers can use Justmoney.co.za to apply directly to the banks and credit card companies for new products, or to brokers and insurers for comparison quotes on insurance, mortgages and personal loans. This innovation will provide financial services providers with a powerful source of qualified customer leads from people ready to purchase.

Adrian Hewlett, managing director of Habari Media, explains: “With changes brought in by the National Credit Act (NCA), banks and financial services providers are desperate for a new way of reaching customers. They have not been able to harness the full potential of the online environment – until now.

“Justmoney.co.za is a guide to money, demystifying financial services, saving consumers money and helping them make informed choices. So when they apply for a product or a quote online at Justmoney.co.za, our guidance has already helped them reach their decision and they are now ready to buy. This means a higher conversion rate and lower cost per acquisition for financial services providers.”

Ian Wason, managing director of BondBusters, which does most of its business online and is the site's mortgage broker partner, says that the internet is the only medium able to give both consumers and financial services providers the level of information they currently need and demand.

“The ongoing Competition Commission has shone a spotlight on bank charges,” Wason says, “whilst the NCA has made it harder for consumers to find credit and for financial services providers to market to consumers. With its comparison engines, calculators and guides, Justmoney.co.za helps consumers better understand their financial situation and the costs involved, enabling them to find the right products to suit their needs, whether it is a cheaper bank account or a low cost personal loan. In turn this saves a lot of sales work for providers.”

Similar sites have been popular in the UK for a number of years, but Wason says Justmoney.co.za has been created to meet the specific needs of South Africa. He continues: “South Africans are quickly becoming comfortable buying online, but accessing financial services over the net is still new for most consumers and the providers themselves.

“It is vital to create trust in Justmoney.co.za – we are totally independent; our comparisons and guides are completely unbiased; we don't charge the public to use our website; and we will never feature ‘sponsored products' paid for by providers, because that could sway consumer choice and would damage the integrity of Justmoney.co.za and the trust people have in us.”

Justmoney.co.za is making the most of Habari Media's experience of internet marketing by rolling out a campaign using some of South Africa's first rich media adverts, as well as sophisticated systems for generating customer leads and tracking them through to the provider.

The website helps users to:
# Compare bank charges and fees to find a cheaper account
# Compare credit cards to find the lowest debit interest rate
# Compare savings accounts to find the highest earning account
# Get mortgage quotes from an independent broker to find the cheapest home loan
# Compare vehicle and home insurance quotes from up to five different insurers
# Get comparison quotes for personal loans from a panel of different companies

In addition users can get quotes and guidance on other financial services including debt consolidation, retirement planning and investments, life insurance, travel insurance and equity release mortgages.

Justmoney.co.za also offers a wealth of tools and guides to help people understand financial services and better manage their money. These include:

# The Justmoney.co.za health check
# Tax calculators
# Budget planner and money saving tips
# Guides to the National Credit Act
# Downloadable guides on a wide range of products and services

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