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I agree with most everyone else here. Michael talks a lot about the features he wants, but not about a plan for revenue. But, it did spark my interest. Now ins

I agree with most everyone else here. Michael talks a lot about the features he wants, but not about a plan for revenue. But, it did spark my interest. Now instead of doing homework, I've got about a dozen books in front of me (I was at the school library). Also, I read "Hate your bank? Here's how to start your own." at SmartMoney. Not a terribly great read, but I was reading this paragraph: "Under one common model, about 20 entrepreneurs each chip in about $100,000--enough to retain an executive team, outfit a branch, buy a technology package and print a bunch of fancy posters." When I came upon "technology package", that light bulb 'o mine bursted with light. I don't think I'll spend pretty much any time thinking about how to start my own bank, but I'm definitely going to start thinking about what a "technology package" might entail and where the state of things are now. Any of you guys know?

anamax 17y ago
I don't know, but I met someone who makes her living setting up banks. Since she was a captive audience and the same lightbulb went off in my head.... I found out that there are a couple of pieces of technology that you need. For each of them, there's a dominant vendor that makes it easy to get approval and some second tiers that make it possible. If your goal is to set up a real bank, you can't save money by rolling your own.
- kluikens 17y ago
  I spent quite a bit of time last night researching financial services (eventually segued to COBOL/mainframes) and one company, Fiserv, kept popping up for a lot of services. Do you mind sharing some examples of what some of those dominant vendors might be?
  - anamax 17y ago
    > Do you mind sharing some examples of what some of those dominant vendors might be? Sorry - that stuff isn't intrinsically interesting to me so I stopped paying attention when I figured out that there wasn't any way for me to make money in the area.

anamax 17y ago

I don't know, but I met someone who makes her living setting up banks. Since she was a captive audience and the same lightbulb went off in my head.... I found out that there are a couple of pieces of technology that you need. For each of them, there's a dominant vendor that makes it easy to get approval and some second tiers that make it possible. If your goal is to set up a real bank, you can't save money by rolling your own.

kluikens 17y ago
I spent quite a bit of time last night researching financial services (eventually segued to COBOL/mainframes) and one company, Fiserv, kept popping up for a lot of services. Do you mind sharing some examples of what some of those dominant vendors might be?
- anamax 17y ago
  > Do you mind sharing some examples of what some of those dominant vendors might be? Sorry - that stuff isn't intrinsically interesting to me so I stopped paying attention when I figured out that there wasn't any way for me to make money in the area.