Hi guys! I am currently working for a blossoming FinTech company called Ubund. Ubund uses proprietary strategies to save consumers money on their subscription costs. Ubund formulates symbiotic relationships with consumers and business by offering business the benefit of recurring revenue and their money sooner. We have already formed partnerships with companies like Netflix and Blue Cross Blue Shield.
If you guys want to learn more about Ubund or start saving money on your subscriptions, check it out here: https://ubund.co/user/login?ubmid=63
I look forward to interacting with everyone! Please comment!
@orthros Yes 10k is a helpful example. I certainly wouldn’t mind an extra $100 out of nowhere every year!
It sounds like Ally bank could be a happy medium - higher than 0 deposit rates, but also sufficient ancillary services and no fees. You mentioned branch services - could you briefly explain the importance of having local branches at a bank? What exactly do you need them for that you couldn’t do elsewhere?
Thanks!
Hi all,
So I just a WSJ article about some of the new trends in consumer banking. The article will be linked at the end.
Essentially, because of all the uncertainty that this year has brought, bank deposits swelled to all-time records. Banks that have been known to have low deposit rates (the interest a bank gives when they put deposited money to work), like Bank of America and JP Morgan, have kept their rates near 0%. Banks that attempt to attract customers with higher deposit rates, like Capital One and Marcus, have been able to cut their rates, as they too have an increased amount of deposits.
This is certainly an interesting article that highlights some of the new trends that 2020 has brought. The article also resonated with me on a personal note as well. Though I am a student and do not have much money saved in a bank, I do have some. Is it worthwhile to target a bank that can offer a higher deposit rate? Maybe 1.5% vs. .08%. I obviously understand the difference in 1.42% per year on the money in the account, but what are the other implications? Is there added fees or risk that comes with earning the higher return on my money?
Moreover, what else could I be doing with my money that I have saved up?
I would love to hear everyone’s thoughts on the article and my questions. Please comment!
Here is the link to the article:
Thanks for reading!
@rick505 that totally makes sense. I’ll look into it.
@rick505 Wow thats interesting. So essentially we should shift our focus specifically to medical bills?
@ctujackbauer thanks for the insight. So you think that our business model is not solid, given that the providers are already doing similar things, and that we have little credibility?
@zerenia Bill Gates is certainly a perfect example of the societal benefits of the endless opportunities offered in our country. We can only hope that all billionaires will follow his example.
@zerenia could not agree more.
but to be fair, those who do venture out on their own and succeed on a large scale certainly get compensated more than their fair share.
@zerenia very relevant and interesting. thanks for this!
it seems as if our initial thoughts weren’t too far off - more people have more time to put their ideas to work. good luck to them!
Hey guys. As some of you may know, I currently work for a FinTech startup (more info in bio). Even though I truly believe in the product and am confident that it can service consumers, we are having a difficult time gaining traction.
Do you guys have any suggestions on how we could gain more traction, aside from social media pages, cold emailing, and a little bit of advertising? I would love to hear.
Also, what are some of your favorite startups? Maybe I could check out their websites and gain some insight there.
Looking forward to engaging! Thanks!
@zerenia very insightful as always! Thanks. I definitely agree that there is much less to lose now for most people. I think the article also asserts that point. Hopefully the new business are able to gain the traction to stick around!