dkimerling

The lack of the ability to take deposits kills the FinTech Charter DOA

He's real

I have used sketch desk several times and I find the service indispensable. The team, product, and experience are all world class.

I strongly disagree. Simple did not try to build a bank.

I beg to differ. In a world of fraction-reserve banking, banks are in the business of capital aggregation and debt issuance - in order to generate all important "spread". But, that world - the world for the past ~700 years - is disappearing.

We live in a world with collapsing credit spreads and Basel III will tighten them even further. In the US, Dodd-Frank's prohibition on lots of fee based income (which was a huge profit center for banks) and the disappearance of debit inter-change due to Durbin makes banks very concerned about the future of their business.

Banks are increasingly turning to transactional systems to make money.

definitely. Once they get gcal integration going, that will just take it to the next step.