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That depends really... are they a bank/lender? Seems like this is the million dollar question, regardless of what they think they are. After all this though,

That depends really... are they a bank/lender? Seems like this is the million dollar question, regardless of what they think they are. After all this though, I've got the following: 1. They seem to have a useful product that a good number of people could benefit from. A marginal step up from payday loans and credit cards. 2. They give off the appearance of transparency, but there is a lot there that doesn't add up. (In an other thread a founder seems to suggest that the bank retains all interest earnings on the "savings" accounts... that seems... off.) (Maybe that's how they skirt the regulations - don't collect any interest at all and receive some other form of payment... maybe a "bank partner fee" or something?) I'm cautiously optimistic that I'm just a little internet jaded and these guys are all on the up and up.

nmrm2 11y ago
> They seem to have a useful product that a good number of people could benefit from. I'm skeptical. Even if the algorithm is designed solely for the benefit of customers, there's very clearly some value extraction going on. It seems to me that personal finance training is a much better product for these individuals... > They give off the appearance of transparency, but there is a lot there that doesn't add up. This seems like a substantial business risk, right? What's to stop another company from coming along that is totally transparent and also just barely out-performs Even on payouts? Or even a non-profit that prices things to manage risk as opposed to make profit, probably undercutting Even in the process? Even's only defense against either is "nuh-uh, we're better", and I have a hard time seeing them winning that fight without full disclosure.