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.”