Alternative Money Models
Two alternative routes to banking have passed by my radar: BankSimple (no confusing products or hidden fees) and On Deck Capital (small business loans based on cash flow with no loan officer). On Deck Capital has been around for a couple years (I’ve had the site bookmarked for 2+ years) and BankSimple is soon to launch. It’s interesting to see these new players in the money world. I hope they both are successful as I think we need a swift kick in the pants with how we manage money.
One other “money” product to consider is Square, the mobile phone add-on device that allows anyone to take credit card payments on their phone. What’s interesting about Square and BankSimple is that both are founded by early Twitter employees.