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Can someone summarize what a "fintech" company like Brex or Mercury provides that a bank or credit union does not?
by zugi 4y ago
Can someone summarize what a "fintech" company like Brex or Mercury provides that a bank or credit union does not?
- curiousDog 4y agoGive away free money
- SilverBirch 4y agoWell, the theory is that you use technology to provide the same services that a traditional bank does, but you do it better because banks have notoriously shit systems. The practice is often that you use technology to provide a half-arsed subset of the services that a traditional bank does, but you don't have a risk department so when there's a downturn in the market it turns out you're providing services to all the people a traditional bank didn't want to deal with for good reason.