BankSimple – Managing your cash via your smart phone

Let’s clarify what BankSimple is, and how it works. First, it’s not a traditional bank, but you do put your money in a BankSimple account as if it were a bank. You make deposits by electronic transfers or by photographing a check with your smart phone. BankSimple gives you an online interface, and a debit card, that you use to make payments from your BankSimple account. If you want to put some of your money in savings, BankSimple finds the appropriate financial products and invests for you. BankSimple manages your money, all you do is set goals for your savings.

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End near for high-interest savings accounts?

The days of high-interest online saver accounts could be numbered, with new global banking standards expected to make the popular deposit products too expensive for Australia’s banks, a senior Reserve Bank official says.

P2P Equity for Game Developers

 

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VCs show healthy appetite for peer-to-peer companies (analysis)

Venture capital firm investment in peer-to-peer technology continues to build strength, according to a recent VentureTrends report…

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Banks – the next victims of the Internet?

The odd thing for me is that the people protesting about the banks behaviour over the last few years just seem to be waving placards and not promoting something to take the place of the banks, though perhaps I have missed it.  Not that this is a political blog, but if they wanted to make an impact, perhaps they should put their financial affairs in this type of place and either borrow or lend to Zopa or other P2P lenders themselves.

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Why Does Disruption in Financial Services Come from Below?

Better underwriting is a double whammy because it allows a startup to compete on either lower loan loss rates, or  on lower acquisition costs (by advertising lower rates). I am highly interested in meeting companies who are taking new approaches to improving underwriting in various lending markets.

 

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Taking on the big four banks

So the mutuals are in a fight for their members, who the banks see as customers, and it is a fight not just for relevance in an increasingly competitive market but also for survival as the rules of the game are about to change in a way that reinforces the dominance of the majors.

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