Thinking about it now, you could probably get more out of this if you don't strictly require coding skills. You just need a process flow builder, you can have precoded components that I could just drag in to create a particular logic for each account, card etc. without knowing code. So say a family or small business could sign-up and actually take advantage of the rules system. Employee spend limit to $X (RX*12 ;D) and only at certain retailers, same for child or husband etc. Love this for that.
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@mitchellgeere Good Points. A setup similar to Zapier or IFTTT where you can do a good amount of programming without actually basing it on code
@srbalusu Privacy is focussed on creating virtual cards easily so you can shop safely online (If I'm not mistaking). Root is a bank account that allows you to easily build solutions like Privacy yourself :)
Really interesting. Considering setup fees, regulation, KYC, AML, etc, etc., is not cheap, why did you decide to go so niche? This is retail only as well?
-Fellow fintech friend
@louwhopley I see. But why did you start from the backend in, why not the opposite direction? I think it's really interesting, just wondering why this approach considering the costs associated (to build a digital bank) which I mentioned above?
A great idea in theory, but might be even more powerful if they built minimal tools themselves, instead of letting everyone make their own. Simple or GoBank already have 'light weight' accounts, and they are real banks which I'd trust more, but their tools are really minimal too. If these guys could provide an interface into 10s of thousands of small US banks, that would be pretty kickass.
p.s. Shameless plug for the https://Emburse.com guys for anyone who wants programmable credit-cards. It's less risk and huge value-add for the business.
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Reminders API
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Hustle X
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liblab
Penta
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