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March/April 2008

Bidding for Interest Rates

NeoSaej's algorithms could change the rules of online auctioning.

By Erica Naone

Ray Stata, Priti Chatter, Rohit Goyal, and Mukesh Chatter
Credit: Christopher Churchill

NeoSaej of Burlington, MA, has developed a novel online auction strategy that it says should produce better interest rates for bank depositors. Its proprietary algorithms allow online vendors to engage in sophisticated behind-the-scenes bidding against each other before their offers are presented to customers.

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