Mint Team Spotlight – Anton Commissaris

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- Name:
- Anton Commissaris
- Title:
- VP Business Development
- Experience:
- Anton is responsible for Mint’s business strategy, partner development and distribution for customer acquisition. Anton brings to Mint over 15 years of experience in the software and Internet sectors, spanning legal, operations, marketing and business development roles.
- Why are you working at Mint?
- Because I think Mint will be a highly valuable service for the consumer and something that is not available in today’s market place. Money is, at the end of the day, important to all of us. And I think Mint has the makings of a great company, and a household brand name.
- What do you do at Mint?
- I’m primarily responsible for revenue generation. That means I’m focused on recruiting Mint merchants in financial services, communications and other areas that affect consumer finances. These merchants present compelling offers to our users that will save them money relative to their current spending. I also work on customer acquisition through distribution relationships. And I’m responsible for overseeing Mint’s privacy and security policies.
- How do you think Mint will help the average consumer?
- By allowing them to simply understand their money flow — by that I mean, where their money is coming from, and where it’s going each month. From there, I think we can help consumers do more with their money by presenting them with saving opportunities that are tailored for them.
Mint will also be a forum for general education on money matters by way of our upcoming content network, and the feedback we collect from the community of Mint users. - What do you think will be the security and privacy concern of an average consumer?
- Without getting into technical matters, I think most people will want to keep their income and spending information private and they will want to avoid being exposed to any fraudulent activity such as identity theft.
The average consumer will think, my money matters are private, and my money is mine. - In what ways are you addressing security and privacy for Mint?
- First of all, our users can choose to be anonymous on the service — that’s to say, we won’t know who they are. We only ask for an email address, which can be anonymous, and a password to use the service. We don’t collect names, addresses, age, gender and all the rest that is typically required of most Web sites these days.
Beyond that, the site itself has been built from the ground up with bank-level security to ensure that there is no unauthorized access to personal financial data. And finally, we don’t and won’t ever sell or rent our users’ personal financial information. Take a look at our Privacy and Security Policy for more information when you sign up. We’ve put a lot of work into that. We think it’s so important.
We’ve also formed a privacy and security executive committee at Mint that sets the policy in this regard and constantly monitors new developments to ensure that as we grow our service, we earn the trust of the Mint community and safeguard the integrity of their data. - Tell us something interesting about yourself.
- I never foresaw this growing up in New Zealand, but strangely enough, I’m a member of the Paris bar (law), — a French Avocat. I took a year off early in my career where I was working in London, to go and relax in the south of France. I somehow ended up with a Masters Degree in Law from the University of Montpellier — without having been able to speak a word of French two years earlier. Then I went north and got a job as a lawyer in Paris. Why not?
And now I work at a Startup in the United States — in Silicon Valley, where I’m rarely called on to speak any French or give any legal advice. - Best financial tip?
- Start saving as early as you can. And check your credit score at least once a year to make sure that you have a clean bill of health, because it impacts all of your money matters.
- Worst financial move?
- Traveling extensively and aggressively whenever I could — very early in my post college life. In other words, I could have been working and saving but I was committed to seeing the world. It was the best life move though.
- How did you handle your finances before Mint?
- I was an on again, off again Quicken user. I guess you could say it was a love-hate relationship with the software. I really worked at that relationship but it wasn’t meant to be.
- What profession other than your own would you like to attempt?
- I’d like to be a musician (singer and songwriter) and a wine maker.
- What profession would you absolutely not like to participate in?
- The legal profession. I guess I’d also not like to be an undertaker.
- What do you do after work?
- I like to hang with my kids and play soccer and other sports. I play the guitar for relaxation and to keep a certain part of my brain tuned. I read a lot of books. I also like to cook and sample different wines from around the world. I still dream of travel. I wish I had time for more things, but I don’t.
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12 Comments so far
leave a commentYou say “I’m focused on recruiting Mint merchants in financial services, communications and other areas that affect consumer finances. These merchants present compelling offers to our users that will save them money relative to their current spending.”
Then you go on to say “most people will want to keep their income and spending information private.”
These two statements seem to contradict themselves in the context of your proposed service. If it’s “free” (advertiser supported) service then I would think the first sentence trumps the second.
Any comments?
Best wishes and good luck.
Michael.
Cook???
When was the last time you cooked?
Cute picture though
Jennifer
Michael thanks for your comment. I’m not absolutely sure which statement is contradicting which, but I think I get the gist of your concern. Yes our service is 100% free. And no we do not share your income or spending with any advertiser. We just have offers in our database and we’re able to match those for you where there is a saving. It’s just an algorithm and math. Your data is being used for your benefit. It’s not being shared with anyone. I hope this helps.
Hi Antonc,
Thanks for the prompt reply. I guess I still feel uncomfortable trading my financial information for a free personal finance tool if your business model is saving members money by exposing them to money saving promotions.
It seems like any savings distilled from your database would be useless unless you look deep into my finances and I doubt you can sell advertisers unless you make some promise that you are going to give them good leads.
What I mean, yes, it’s great you’re not going to hand over actual data to an advertiser but how can you give me an offer that doesn’t expose your intimate knowledge of my finances?
For example, if you know I spend $1,000/month on cell phone service and a deal is in your database for people who spend $1,000 or more on cell phone service it seems you have in fact passed on intimate knowledge of my finances if there is any way for the advertiser to connect the offer with Mint.
And what about the future?
You are venture finance backed and unless your terms and conditions do not allow for any change or modification (something I truly doubt) what guarantee can you make that some day down the road the terms will not be changed as part of a sale to someone who wants to mine that data?
I’m not saying that I would flat out not use your service but I think that every user should have the option to opt out of the algorithm, especially if this algorithm can put offers into my inbox for items that are not in my budget!
Hi Anton,
Congratulations on the new role from Auckland. Some questions.
Trying to understand how Mint is different from other personal financial applications. Would be good to hear about differences over the usual suspects (Quicken & MS Money?)
Seems like a market where it is hard to differentiate or provide something unique.
Also will there be links to a SaaS style accounting platform for example?
Michael – thanks again for your great questions.
We’re quite comfortable with a business model that saves our members money. This is not simply a means to an end; it’s an intrinsic part of the service and the value that we offer to consumers.
As previously mentioned, your finances will be analyzed, but for your benefit only. Any results will be delivered only to you. And you can choose to remain completely anonymous on the service. Whether you decide to act on an offer is entirely up to you. Yes – advertisers will get good leads, but only if we make valuable offers to you and you choose to act on them.
With regard to your cell phone plan example, our job is to help you find a plan where you would spend less than $1,000/month. If you decide to investigate a related offer, an advertiser does not know that you spend anything until you decide to sign up for the new plan, which you’d only do if the offer makes sense.
As to the future and guarantees, I won’t go into that here, but I’d invite you to read our privacy and security policy in this regard when the service is available.
Aside from the merits of doing so, opting out of an offers algorithm that is designed to save you money might be one approach, but then we’d need to charge for the service and we’re determined to help consumers with their money, not to take more of it.
At heart, we’re consumer advocates. We’d like to see people move away from banks that pay no interest to those that pay 4-5%; away from credit cards offering no rewards to those paying up to 5% cash back on certain categories; away from that old expensive land line and to a lower-cost, higher quality provider. We just want people to save.
The national savings rate for people under 40 is negative; at Mint we’re out to change all that.
If you’d like to continue this conversation, please feel free to send an email to security@mint.com
Hi Jason,
It’s good to get a comment from down under!
What’s different about Mint? Well, the name first of all. Mint is going to be a fresh approach to personal finance and we’re going to help you not just know your money, but also grow your money.
We’re also providing a Web service, not desktop software, and its free! Beyond that, I’ll need to ask you to wait for our public beta to see for yourself if there are any differences relative to Quicken and Money.
On the one hand, all markets are hard to differentiate in and offer something unique. On the other hand, all markets are open to innovation and disruption if you provide something sharper with value and you can execute rapidly.
Hello again – will the service be global or only of interest to those in the U.S?
I.e will look at the beta but I live in Auckland not SF.
It will be based in the U.S. initially.
Hi Anton,
Like Jason, my question is about when will the service be available outside the US. Since I’m in Canada (close enough to the US), I’m wondering how long will it be before Mint is available to Cdn. consumers? I’m thinking there is hugh potential /opportunity to do this soon since some of the U.S. banks already have Cdn. connections or vice versa. For example, HSBC, ING, etc.
P.S. – Will be interesting to see how Mint stacks up against Quicken Online (a payment subscription service). And yes, they are going global and available in Canada.
Wow Anton, congratulations on the sale to Intuit! I love Jennifer’s comment asking you when was the last time you cooked. Ha ha!