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> Why haven't banks stepped in and offered something here? Real banks won't do business with unregulated/unlicensed entities. That is why "fintech" is all buil
by mike_d 2y ago
> Why haven't banks stepped in and offered something here?
Real banks won't do business with unregulated/unlicensed entities. That is why "fintech" is all built on top of random banks you've never heard of.
There are plenty of wealth management companies, family office management platforms, etc. that have proper licensing that get extensive access to advanced banking APIs at the "household name" banks.
- rvnx 2y agoMercury seemed to use Synapse and they migrated away successfully right before the meltdown ? I wonder what saved them ? If it's good timing or some better IT organization.
- toomuchtodo 2y agoBased on everything public, it appears Evolve knew Synapse was going to collapse due to systemic issues and went directly to Mercury to maintain the relationship.
- fragmede 2y agoAt the family office scale, are you sure those APIs aren't Actually People, It seems?