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Ask HN: What are the unaddressed problems in fintech today?
Seeing if I can get opinions from people working in different areas of fintech or people using fintech products. What problems currently exist from your point of view and experience?
I understand that fintech is a broad term, I didn't want to narrow onto a niche to solicit wider conversation. Particular niches could include banking, wealth management, debt or credit management, budgeting, payment api / integration etc. I'm not sure myself.
- krimeo 6y agoOh don't get me started ... just read through the T&C of the "banks for millenals". - fake crypto (in reality it's CFD but they market it as crypto) (revolut) - exchange rates worse than MasterCard for non-major currencies (revolut, just read their forums) - blocking your account and requiring further documents (KYC, AML) if you want to access your money after you deposit more money - exchange rates not public anymore (today exchange rates are accesible only to customer, not public) (revolut) - no online banking, android/ios only - when you start utlizing the cheaper services they actually provide you get harrased by the "compliance team" (because their are losing money so they can compete) (bunq, monese) - low limits and when you reach your limit your account get be terminated (monese) - no free API accessible to the customer (just some oauth api you can not use) - expensive fees (transwap, ofx) - horrible support - no airgap security (think german PhotoTan or dutch ING scanner) - expensive ATM withdrawals