BankSimple Announces Funding & Partnerships to Launch Real-Time Banking Platform. BankSimple, the highly anticipated web-only bank being built with an emphasis on user experience and no fees, is getting closer to launching, the company said today. CEO Joshua Reich put up a blog post this afternoon announcing that BankSimple has secured partnerships with VISA, Barcorp and other institutions to enable its customers to get transaction rewards and have their deposits FDIC insured.
Additionally, the company announced that it has grown its venture capital war-chest from $3.1 million to $13.1 million. The company is testing its products now and says it will launch within the year. In announcing supporting partnerships with more traditional banking institutions, Reich emphasized that the company carefully selected partners that shared its opposition to surprise fees and that support "modern real-time systems that enable deep connectivity with the BankSimple platform.
" That's key to understanding the true nature of BankSimple's aims. Right: BankSimple CEO Josh Reich. Forget The Big Banks, BankSimple Will Provide The Same Services Without Screwing You Over. BankSimple has no physical locations, you do everything online. More than simply mobile, the interface makes it easy to see what you can spend, and how you can save. Overdraft penalties, hidden charges, ATM fees – mainstream banks have come up with a myriad of ways for separating you from your money.
BankSimple not only wants to put an end to the leaching, they want to help you manage your cash in the easiest, most straight forward way possible. The (soon to be) Portland-based startup represents a new kind of retail account for your money. Instead of brick and mortar banks, everything is done online or via a smart phone app. Instead of dealing directly with checking and savings accounts, you just tell BankSimple your goals, and they manage your money for you. Let’s clarify what BankSimple is, and how it works. For those that are used to dealing with big retail bank chains like Chase, Bank of America, and WellsFargo, BankSimple can seem like a fly-by-night sort of operation.
Would you? How to Build a 21st Century Investment Bank. So how would you build a new bank? If we were creating a bank today, how would we create it? This is a question that comes up regularly and I haven’t tried to answer it for a while, but thought I’d give it a go this week, as it’s timely. The reason it’s timely is that the last time I asked such a question, the focus got into an IP-based bank, where everything would be built upon Internet-Protocol rather than bricks and mortar. I would still take that approach today, and still believe that a bank would focus upon what IP can do for them, but would go further as mobile IP is the focal point today, along with apps.
Now, let’s be clear, building a bank today requires many things and so the first thing I’d start with is what sort of feeling I want my bank to convey. Are we a technobank or a human bank? Do we want to encourage human interactivity or remote interactivity? How do we believe we are different and what can we deliver to clients to show we are different? And so on and so forth. And what is that? No. Someone they could trust. Le futur de la banque.
Il m'est souvent arrivé de discuter du futur de la banque avec de nombreuses personnes (avec une variante : comment la banque peut-elle innover ?). Je ne citerai que Sylvain Fagnent d'Octo et Raffa Elhafi d'Ananké Partners (aussi auteur d'un article dans la Expansion Management Review) qui ont partagé leurs visions respectives dans leurs blogs. Et j'ai voulu aussi me livrer à l'exercice. Sur le domaine, je vous recommande aussi les blogs de SIA, Insiden, TekFin et C'est pas mon idée. Qu'est-ce qui caractérise la banque de détail ? : C'est une activité de distribution comme n'importe quel autre distributeur mais portant sur des produits financiersDerrière, il y a de grosses usines à processus complexes pour fabriquer les "produits"C'est un secteur très règlementé à structure oligopolistique, ce qui a un impact déterminant sur la dynamique concurrentielle du marché.
Commençons par la distribution. Du coté des usines, la transformation a aussi été très profonde :