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On the other hand, the big banks are creating a market opportunity for retail banking services that do not profit from fees. I chose to work at Simple [1] in pa
by tadfisher 13y ago
On the other hand, the big banks are creating a market opportunity for retail banking services that do not profit from fees. I chose to work at Simple [1] in part because I believe competition in this space will improve the industry as a whole.
The best weapon against predatory banking is giving customers the tools to understand their own finances. Because fees comprise an ever-growing portion of profits, it is not in the big banks' interest to provide these tools, thus they will always be a poorer experience than the services that do.
[1] https://simple.com https://simple.com