What happens when an already concrete, long-standing industry perceived as the opposite of user-driven tries its hand at innovation? What happens when the financial services industry makes the leap onto the user-driven Web and into mobility? Well, heres one of our picks for a company that really got financial innovation right:

Mint.com

Mint.com is home to a free, ultra-customizable money management and budgeting system. Sure, there are a lot of companies producing software and websites to help people better track and manage money, but Mint is the first to offer an elegant, highly customizable solution for a very custom need. So whats elegant about it? Well, according to some of the over 1 million people already using Mint:

It fulfills an unmet need.

Mint isnt just design orientedthat is, while its full of relevant, detailed features; Mint isnt all about the aesthetic.

And, as of now, Mint has a user base of over 1 million people and is tracking 175 billion in transactions, 47 billion in assets and has identified more than 300 million in potential savings for its users. But how did this financial services web-based start up that has only been in operation for two years manage to gain recognition as the webs foremost way to manage money?

It all started with insight.

For Aaron Patzer, CEO and founder of Mint, Quicken was cumbersome. It just didnt have the ease of use and the range of customizable solutions that is required by individual-specific financial situations. In short, it was an umbrella system. However, by assessing the finite points of personal finance and asking the simple, but powerful question: What would I want out of this? Patzer got it right.

So right in fact, that Intuit, the maker of Quicken, QuickBooks and TurboTax and the inspiration for Mint itself, recently acquired Patzers company for about 170 million in September of 2009.

According to Patzer, we tried to ground ourselves in what any business should be doing: solve a real problem for people. Make something that is faster, more efficient, cheaper and innovate on technology or business models to make a healthy revenue stream doing it.

By responding to insight, fulfilling an unmet need and by making clear communication, not aesthetic design, a primary concern, Mint.com is innovating how many manage their moneyand how they see the financial services industry.

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