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Does this allow me to basically create my own bank? Like could I make my own version of Simple, and use this as the back end? I'm confused because I thought the
by uses 6y ago
Does this allow me to basically create my own bank? Like could I make my own version of Simple, and use this as the back end? I'm confused because I thought there were a lot of legal requirements to banking and not just the actual services they provide, which this seems to commoditize.
- tarstarr 6y agoStripe isn’t a bank either! We hold various financial licenses and partner with a number of large global banks to power Stripe Treasury. That said, you can definitely build atop Stripe Treasury to offer your customers fintech services, so that they can perform all of their money management needs on your product. Though we’re interested in helping entrepreneurs build financial services for many use cases, today we only support businesses (which includes sole props!) To the point of legal requirements -- there are absolutely a lot of legal requirements here, but Stripe Treasury abstracts a lot of the complexity of those requirements and makes it easier for you to comply than if you had to go at this alone.
- yannlevy 6y agoHow is that different from other BaaS solutions ? such as Bond Tech or Wise ?