Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Column – a chartered bank for developers

column.com

Post reply on HN
Print view View original

191–200 of 299 posts

Re: Column – a chartered bank for developers

#191

Post by jjeaff »

kakuri wrote: post #50
VincentEvans wrote: post #43

Congrats on launching! I just want to vent about something bank-related, and hopefully bait someone to tell me how this solves it. Or something else solves it. Have you ever heard how you could pay off your mortgage a lot quicker by making bi-weekly payments instead of monthly? Or how you can include extra with your payment and instruct your bank to apply it directly to the premium, helping you reduce your interest?…

Sounds like you have had the misfortune of using terrible banks. I have never had this issue with home mortgages or car loans, it was always easy to make extra payments directly to the principal.

I use a regional bank and they have always been a bit behind when it comes to tech. But even a decade ago, I could make my payment online and there was a simple checkbox to send extra payments toward the principal.

Re: Column – a chartered bank for developers

#193

Post by toomuchtodo »

_praf wrote: post #152
toomuchtodo wrote: post #135

Will you support FedNow instant payments when it GAs next year? Alias support for transfers and payments? Also, my favorite part of your site is this part of your Careers page: > I don’t fit into any of these roles. > You get Column and you think you can drive value on day one. We’ll be honest the bar will be pretty high for us to hire outside of these roles - but fuck it, surprise us. Give us a compelling narrative…

Engineer at Column here. We absolutely want to be early adopters of all new Fed technologies and payment rails. That being said, the rollout on these things is...slow. The Fed moves at its own pace, but we will definitely be right there with them.

Thank you for the reply. One more question: is it possible to sign up as an institutional investor to buy loans originated on the platform alongside Column’s buy side?

https://column.com/loan-purchase

Re: Column – a chartered bank for developers

#194

Post by taejavu »

ncake wrote: post #168

If this is a US-only service, it should say so on the website somewhere. I've also had this experience with e.g. Betterment and Wealthfront. The only way to find out they're US-only is halfway through sign up process, not even anywhere in FAQ's.

The first line under the main heading starts with "The only nationally chartered bank...". That, combined with the dot com domain, implies pretty heavily that it's a US only thing. At least, it did for me.

Re: Column – a chartered bank for developers

#195

Post by vinceguidry »

jjeaff wrote: post #132
arcticbull wrote: post #57

Earlier quoted context omitted.

> Have you ever heard how you could pay off your mortgage a lot quicker by making bi-weekly payments instead of monthly? Or how you can include extra with your payment and instruct your bank to apply it directly to the premium, helping you reduce your interest? Generally speaking you don't want to do that. A mortgage with an interest rate of like 3% (to which anyone in the last year refinanced or, or got on purchase…

You have a rather sophisticated analysis here, yet, you left out the most important factor: risk. Something that every sophisticated investor must take into account. And in the case of your personal residence, you have to take into account not only investment risk, market risk and interest rate risk (which you alluded to re: refinancing, but you left out the fact that you are not guaranteed to be able to refinance an…

If they're banking cash they would have otherwise put into their mortgage, then that extra liquidity is going to be a good thing should it come to foreclosure.

Re: Column – a chartered bank for developers

#196

Post by [deleted] »

jeremyjh wrote: post #120
whockey wrote: post #8

Hey founder (and OP) here. This has been a labor of love for the past few years and I'm super stoked on what we shipped. Would love any and all feedback, thoughts and questions!

I'm a little confused about who your customers are. Do I have this right? - Competent to develop and manage AML, KYC programs - Wants to handle underwriting, fraud, compliance & operational risk exposure - Develops software - Doesn't want to talk to ACH & VISA - Operates only in the US Who is that?

[deleted]

Re: Column – a chartered bank for developers

#197

Post by bpicolo »

jeremyjh wrote: post #120
whockey wrote: post #8

Hey founder (and OP) here. This has been a labor of love for the past few years and I'm super stoked on what we shipped. Would love any and all feedback, thoughts and questions!

I'm a little confused about who your customers are. Do I have this right? - Competent to develop and manage AML, KYC programs - Wants to handle underwriting, fraud, compliance & operational risk exposure - Develops software - Doesn't want to talk to ACH & VISA - Operates only in the US Who is that?

There are several industries where wire for million dollar+ transactions are the norm. Seems like a real enabler in those spaces?

Re: Column – a chartered bank for developers

#198

Post by ValentineC »

whockey wrote: post #20
RcouF1uZ4gsC wrote: post #13

Very interesting. How are you dealing with KYC regulations? Do you provide that, or is it the responsibility of developers calling your API to have already done KYC.

We let developers bring their own KYC providers. There are so many great solutions out there I don't think the world needs another one :) In general our approach is to focus on building things that 'only a bank can do' and if there are great existing solutions (ie: fraud, kyc, issuing processors) we let developers bring those solutions. We play nicely with all of them.

I had a quick look through your docs, and it would be really great if Column allowed Entities to use identifiers other than SSN:

https://column.com/docs/api/#entity/object

Re: Column – a chartered bank for developers

#199

Post by SgtBastard »

Asafp wrote: post #117
igrav55 wrote: post #96

Earlier quoted context omitted.

This looks awesome! A few questions: - Will there be an openapi spec to generate clients in most languages? - Do you support depositing checks via the dashboard? - Out of curiosity, what database are you using for high availability?

Hi, I am an engineer at Unit.co, a company that also builds Banking as a Service. We use PostgreSQL as database, and currently thinking about adding ElasticSearch to allow our users to do text search.

Friend, its in poor taste to hijack a question about a competitors product to spruik your own - I would be less likely to consider Unit.co as a result of what you're doing here.

Re: Column – a chartered bank for developers

#200

Post by leetrout »

whockey wrote: post #8

Hey founder (and OP) here. This has been a labor of love for the past few years and I'm super stoked on what we shipped. Would love any and all feedback, thoughts and questions!

I have had this dream for YEARS.

I wanted to make a community bank and then build the software to run it and start selling to other credit unions / community banks and start getting rid of the jack henry crap everywhere.

Big congrats to you!

Post reply on HN