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I'd love to bring banking to the 21th century. (Ability to create virtual cards, scale bank accounts based on needs/usage, easy access to loans etc.). And all t

I'd love to bring banking to the 21th century. (Ability to create virtual cards, scale bank accounts based on needs/usage, easy access to loans etc.). And all this would have to work internationally (go anywhere in the world...2 people have a smartphone? Great, this system works). Give people the ability to save, invest and help them along that way and give them more power about their money. Also the ability to get the entire system to work electronically offline. So we'd need advancements in not just technology (tbh, the tech would be the easy bit), but laws and ideas/conceptions people have with banks/monitory systems in general.

siquick 10y ago
>scale bank accounts based on needs/usage< Can you give an example of this?
- ohstopitu 10y ago
  well, right now, if you go to a bank (in US/CA), you have to choose between a few plans (if you will) based on transactions and usage and you get charged based on those plans. However...your usage is generally changes and so should your plan. (for example, i personally have a lot of transactions happening in April/May) and then it generally drops to a few every month and to avoid paying those transaction charges I have to always hold around $5000 base balance. While this might not be an issue for me (I have a comfortable income where the $5k does not affect me as much, and my spending habits are not excessive either), there are a lot of people for whom, 5k (or even the $1k/m min amount is a lot) and these people who need money the most, usually fare the worst. I find that unfair (similar to buying in bulk).
herbst 10y ago
Currently a digital nomad in the need of a bic/swift able bank account with a debit card attached and at best a proper online interface. I really dont understand how this shit is so hard.
- ohstopitu 10y ago
  like I said, because of a lot of reason (some personal, some unfortunate incidents), I've been looking for the above solution for over 5 years and have found none so far. :( Sadly it's never the technology, it's the laws that are the issue (and I can see why they are necessary too, so it's just in limbo)
  - herbst 10y ago
    Yeah absolutely. Were it just about the technology i am sure we could have fixed that long ago :/

siquick 10y ago

>scale bank accounts based on needs/usage< Can you give an example of this?

ohstopitu 10y ago
well, right now, if you go to a bank (in US/CA), you have to choose between a few plans (if you will) based on transactions and usage and you get charged based on those plans. However...your usage is generally changes and so should your plan. (for example, i personally have a lot of transactions happening in April/May) and then it generally drops to a few every month and to avoid paying those transaction charges I have to always hold around $5000 base balance. While this might not be an issue for me (I have a comfortable income where the $5k does not affect me as much, and my spending habits are not excessive either), there are a lot of people for whom, 5k (or even the $1k/m min amount is a lot) and these people who need money the most, usually fare the worst. I find that unfair (similar to buying in bulk).

herbst 10y ago

Currently a digital nomad in the need of a bic/swift able bank account with a debit card attached and at best a proper online interface. I really dont understand how this shit is so hard.

ohstopitu 10y ago
like I said, because of a lot of reason (some personal, some unfortunate incidents), I've been looking for the above solution for over 5 years and have found none so far. :( Sadly it's never the technology, it's the laws that are the issue (and I can see why they are necessary too, so it's just in limbo)
- herbst 10y ago
  Yeah absolutely. Were it just about the technology i am sure we could have fixed that long ago :/