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BankSimple Launches Preview Site

banksimple.com

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Re: BankSimple Launches Preview Site

#71

Post by trafficlight »

SkyMarshal wrote: post #62
i2pi wrote: post #35

Earlier quoted context omitted.

Hi. I'm Josh, the CEO. You can read more about our growing team on the /team/ page, but in summary, I have an MBA in Finance and Accounting, and worked with a multi-billion dollar investment portfolio. Shamir, our CFO (aka 'account manager'), spent the last few years doing banking and payments consulting for McKinsey. In addition to our core team, we have multiple payments systems consultants, banking lawyers and for…

>A lot of the pain in banking stems from atrocious technology, so we're making better tech to drive a better experience. I can't believe how bad many banks' online experience still is in 2010. Best of luck to you guys, hope you clean their clocks.

It's not just the online aspect either. The internal tools are absolutely awful. And even small credit unions spend hundreds of thousands a year on them.

Re: BankSimple Launches Preview Site

#72

Post by a_m_kelly »

u48998 wrote: post #65
dkasper wrote: post #48

Earlier quoted context omitted.

Another happy Schwab customer here. I've got secondary accounts at ING and they're great too.

I was thinking about switching from BofA to ING but the unavailability of ATMs near me, is the show stopper.

seconded. I live in Boston and I am almost never further than a single block from a BofA ATM here. Their ATMs now allow me to make deposits at nearly all ATMs, so until I move out of Boston there's no reason to switch.

Re: BankSimple Launches Preview Site

#74

Post by ry0ohki »

i2pi wrote: post #35
Lewisham wrote: post #23

I'd pay for Mint + Bank in a single package. It looks great. However, it's hard not to be a little disconcerted when the "meet the team" bit doesn't have a single person who has any sort of financial title like "accounts manager" or anything. It's just a group of devs. That doesn't scream "we know finances" it screams "we know how to make web apps, hope you trust us with money too... it can't be that hard, right?" Mi…

Hi. I'm Josh, the CEO. You can read more about our growing team on the /team/ page, but in summary, I have an MBA in Finance and Accounting, and worked with a multi-billion dollar investment portfolio. Shamir, our CFO (aka 'account manager'), spent the last few years doing banking and payments consulting for McKinsey. In addition to our core team, we have multiple payments systems consultants, banking lawyers and for…

You should also definitely partner with BudgetSimple, heck the branding is even similar ;)

Re: BankSimple Launches Preview Site

#75

Post by grourk »

rms wrote: post #34

In the meanwhile, I've been very happy with Charles Schwab's checking account. Free as in beer, you're allowed to overdraft with no overdraft fees, free ATM fees at all ATMs (including international!)

Also, Fidelity's checking account: http://personal.fidelity.com/accounts/aong/sca_learn.shtml.c...

Re: BankSimple Launches Preview Site

#76

Post by steveklabnik »

mey wrote: post #30
donpark wrote: post #29

Earlier quoted context omitted.

BankSimple is not a bank. Think of them as a user-friendly GUI over a group of banks. As to where money actually gets deposited, it probably depends on which bank offers the best deal at any given time.

Doesn't mean that GUI doesn't have control of your financial interactions, moving your financial accounts between underlying banks, or being involved in any of the interchanges (ACH/Debit/Credit Rails, etc)

That is how I understand it to work, yes.

Re: BankSimple Launches Preview Site

#77

Post by uvince »

jakarta wrote: post #4

I'm still trying to nail the business model here. "BankSimple account plus BankSimple debit card replaces your existing personal bank account. Make deposits, withdraw cash, pay bills, earn interest, and more. However, BankSimple is not a "bank." We partner with chartered banks who provide FDIC-insured products, leaving us free to concentrate on designing the complete consumer banking experience, via the web and your…

Can you cite your source please? or a source? thanks.

For reference, the average American uses 16 different financial products, with about 2 products per bank. A good bank like Wells Fargo boasts a ratio of 5.5-6 products per customer. Your typical bank earns its money on an 80/20 split, where 80% comes from the interest spread (borrow at 3%, lend at 6%, net 3%) and 20% comes from fees (overdraft, interchange, fees for other products).

Re: BankSimple Launches Preview Site

#78

Post by i2pi »

Lewisham wrote: post #68
i2pi wrote: post #35

Earlier quoted context omitted.

Hi. I'm Josh, the CEO. You can read more about our growing team on the /team/ page, but in summary, I have an MBA in Finance and Accounting, and worked with a multi-billion dollar investment portfolio. Shamir, our CFO (aka 'account manager'), spent the last few years doing banking and payments consulting for McKinsey. In addition to our core team, we have multiple payments systems consultants, banking lawyers and for…

Hi Josh, This all sounds great. It's exactly the sort of things I think you should consider you putting next to those portraits or on the Team page. I know you guys have all the technical chops, and as a potential customer, I wanted you to show me you knew what you were doing eyes wide open. Just a throwaway line "Plus an army of payment systems, banking lawyers and regulators ensuring the safety and security of your…

Point well taken. Thanks!

Re: BankSimple Launches Preview Site

#79

Post by blaines »

KirinDave wrote: post #32
julius wrote: post #18

The site has an easter egg. Keyboard navigation: Try j,k,Esc,1-7 (its explained at the bottom of the page)

The keyboard nav isn't really an easter egg. HINT: The site does have two easter eggs. I'll spoil one; try clicking in the far top left of the guilloche background. Didn't you wonder how we got the page to load so fast with such a huge image?

Nice! I see some mootools? Is that a standard feature or something specially awesome?

I really like their site, they put a lot of effort in it and it shows. Good work!

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