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> It kinda removes worry about their IT infra from my mind. For me, 'good IT infrastructure' isnt for reliability (though that's important!), but got good digi
by madeofpalk 8y ago
> It kinda removes worry about their IT infra from my mind.
For me, 'good IT infrastructure' isnt for reliability (though that's important!), but got good digital products. I want an iPhone app for my bank that's made my actual humans that know how to make apps.
In my eyes, the most successful banks have realised that there's actually very little differentiation between financial products between banks, and where you can set yourself apart is with your internet banking and mobile apps.
I use Monzo in the UK and really enjoy it.
- lifeisstillgood 8y agoThere are some issues here. I also use monzo and would recommend them happily. however i used them to put business expenses on a single card, and each month grabbed the data and pushed it to a 3rd party. then they changed their statements (from memory "Amazon" become "amazon mktplace" - not just in future months but in past downloads. hence their past output depended on current config settings. (another issue was they changed how they represented a chargeback) This would never happen with major banks - because they screwed the pooch with that in the 1980s and still have the same COBOL patches running today. What I am trying to say is that the new banks will offer really good new products - but there is a risk premium.
- MoBattah 8y ago"because they screwed the pooch with that in the 1980s and still have the same COBOL patches running today." What?