Wednesday, November 23, 2011

BuzzBanking, With Investor Backing, Targets Credit Unions

Austin-based BuzzBanking, a new startup aimed at running rewards programs for credit unions and community and independent banks, announced it service today. The firm said its web platform is already being used by a number of finanncial insitutions across Texas, and is backed by investments from Daylight Partners and Bill Amelio, former CEO of Lenovo. The firm's advisors include Mike Levy, founder of Texas Monthly, Jimmy Mansour, former CEO of Clearwire, Bill Morrow, former CEO of Grande Communications and founder of CSI Identity; and, Lloyd DeVaux, COO of Bank Atlantic. BuzzBanking's rewards program allows customers to earn reward points on debit card purchases. BuzzBanking is headed by Jay Valanju; the firmk's founders are all previously from FundsXpress.