Wells Fargo Selected HomeZada as a Finalist in Innovation Challenge

HomeZada is selected as a finalist for the Wells Fargo Innovation Challenge which looks for startups that provide more approachable and interconnected solutions for the financial services industry and their customers. HomeZada is excited about working with the Well Fargo Innovation Team in producing its final presentation for the Innovation Summit in November.

HomeZada is a personal finance fintech platform the empowers homeowners to manage, maintain, protect, and improve their largest financial asset and biggest expense, their home. HomeZada helps homeowners save money and time, and be better organized by combining multiple apps, content and data into one app to manage the home.

“We are honored that the Wells Fargo Innovation Challenge selected HomeZada as a digital home management platform to explore benefits to both Wells Fargo and its customers,” stated Elizabeth Dodson, a co-founder of HomeZada. “This validates our dual mission of providing complete financial visibility about a home for homeowners while helping financial services companies cultivate deep and enduring relationships with customers.”

Wells Fargo has identified six ‘Multi-X’ categories for expanding and interconnecting ways that consumers and businesses participate in banking activities. HomeZada fits into multiple categories given the importance of the home in consumers’ lives.

Assets is one of the Multi-X categories that aligns with HomeZada because residential homes are a big generator of wealth for consumers. Recent studies indicate the net worth of homeowners is 40 times that of renters and real estate is the largest asset class in the US. Homeownership is also a continuous journey that never ends as consumers buy, own, and sell on average 5 homes in their lifetime. HomeZada aggregates all the financial aspects of a home in one platform to make consumers smarter homeowners.

Commerce is another Multi-X category that aligns with HomeZada because the platform can connect consumers to various products and services homeowners need to manage their home. Homeowners need various real estate services, home insurance, home maintenance services, home improvement retail products, remodel contractors, home services, and financial products. HomeZada can work with financial services companies to develop a strategic ecosystem that makes it seamless for homeowners to buy the products and services they need to manage the home.

Care is a third Wells Fargo Multi-X category where HomeZada applies. As baby boomers are reaching retirement, more want to age-in-place in their current home and need help in managing their home. They also are putting together estate plans that include how their current home and their personal property gets distributed. HomeZada manages all this information about homes and helps document plans on how these assets span generations.

A home is most people’s largest financial asset and biggest expense that needs to be managed, maintained, protected, and improved. The homeowner journey is continuous and requires connections with many different financial and physical products and services. HomeZada is excited about the opportunity to work with Wells Fargo Innovation to bring these elements together in one digital home management platform that benefits homeowners and financial services companies.

About HomeZada

HomeZada is a Digital Home Management platform that empowers homeowners to manage their largest financial asset, their home.  The online and mobile solution combines apps, content, and data to help homeowner’s mange a home inventory, a home maintenance schedule, home improvement projects and all home finances and expenses.  Companies in the financial services, insurance, real estate, and home improvement markets can cultivate deep and enduring relationships with their clients that increases retention and additional revenue opportunities.