Back

Discover Honored For Technology Innovation For Financial Management Tools

October 05, 2009

InformationWeek Recognizes Creation of Online Tools That Help Cardmembers Track Spending and Manage Debt

RIVERWOODS, Ill.--(BUSINESS WIRE)--Oct. 5, 2009-- The creation of customized online tools that help consumers manage debt and analyze their spending earned Discover a place on the 2009 InformationWeek 500 annual list of the most innovative users of information technology.

InformationWeek recognized Discover for launching an innovative series of online financial planning tools to help consumers get a clearer view of their spending behavior, manage their debt better and empower them to make smart financial decisions. This is the fourth consecutive year that Discover has made the list.

“This recognition underscores Discover’s promise to empower people to make constructive and informed decisions when it comes to their finances,” said Glenn Schneider, senior vice president and chief information officer. “Our technology teams work hard to prioritize projects that fulfill our mission and contribute to the bottom line.”

From a technology perspective, these new tools were Discover’s first move toward Web 2.0 components. Discover’s Spend Analyzer Tool® has an interactive summary to help consumers get a better understanding of their spending habits by organizing all of their Discover card purchases into categories such as travel, supermarkets and retail merchandise. Cardmembers can see exactly where their money is going. The Paydown Planner gives cardholders a customized look at how long it will take to pay down a balance over a specific amount of time.

“For over 20 years, the InformationWeek 500 has honored the most innovative users of business technology,” said InformationWeek Editor-in-Chief Rob Preston. “Year after year, InformationWeek 500 companies harness technology to improve efficiency, boost productivity, drive revenue, and establish a competitive advantage. We applaud this year’s winners, and the CIOs and other executives whose ingenuity and risk taking are at the center of business technology innovation.”

Additional details on the InformationWeek 500 can be found online at www.informationweek.com/iw500/.

About Discover

Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers student and personal loans, as well as savings products such as certificates of deposit and money market accounts. Its payments businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 185 countries and territories. For more information, visit www.discoverfinancial.com.

Source: Discover Financial Services

Mai Lee Ua
Discover
224-405-3082
maileeua@discover.com