SmartyPig, a firm that offers online goal-based savings accounts, has announced that it will be appointing Bob Weinschenk as its new Chief Executive Officer.
Before joining SmartyPig, Weinschenk was co-founded and CEO of Barfly Interactive Networks that was acquired by TouchTunes in September, 2008. Weinschenk is also co-founded and director for www.smarthealthykids.com, which is a video streaming site that allows parents to make enlightened food and environmental choices for their children.
In the past, Weinschenk has also served as President and CEO for Britestream Networks, a supplier of commercial encryption technology. He was also the president the CEO of Pixim, a supplier of semi conductors and software platforms for digital image capturing and processing.
Michael Ferrari, SmartyPig’s Co-Founder and CEO had this to say, “With the momentum we’re experiencing, the enhancements we are making to our product and the further expansion we are planning, it was necessary to bring in someone of Bob’s caliber. He’s built five companies and has had a tremendous amount of success. We could not be more excited.”
For a firm that offers an online saving account product, one might think that SmartyPig would tap a veteran of the banking industry, but the company is much more of a technology company than a finance company. SmartyPig partners with West Bank (NASDAQ: WTBA) to manage the savings accounts of SmartyPig customers. Since SmartyPig isn’t actually a bank and instead just partners with a bank for its deposits, SmartyPig can focus on their core product without also learning how to be an effective bank.
