Its Eric here, I saw your thread and the very reasonable requests you were talking about and I wanted to reach out.
Firstly thanks for all your support, investment and advice. It’s all very much appreciated.
We absolutely intend to provide a full service bank (subject to regulatory approval) that you can move all of your financial life to, and very much hope that it will revolutionise the way you think about banking….that’s the reason we have spent so much time with our crowd funders and customers to actually build an entire bank, not just a front end to stick on someone else’s.
The downside of that however is that we have to start slowly and in beta. A big bang release of everything all at once carries an amount of technology and implementation risk. So we made the call to go conservative, start off small and start to iterate and develop rapidly from there. It’s worth noting the very successful Monzo over in the UK stayed in beta for a long time, and they like us, didn’t suggest customers dump their other bank during the beta process.
It’s probably also worth us being clearer in communicating that this roadmap is over a fairly short time frame…its not over a year or even over six months. We also intend to give existing customers and those on the wait list access first in the beta period…so by the time we go out to the “wild” its pretty likely we will be onto the next roadmap period with more of the features you mentioned.
We wouldn’t recommend moving your entire account to us in the first few months of the beta, just open an account and have a play, give us feedback and enjoy seeing the bank develop in front of your eyes. Once we are out of Beta and you are feeling confident that the account can handle everything you need, then it’s time to swap.
I hope we will amaze you by how fast the functionality will develop from the starting point, and the things we can offer. This roadmap is just the starting point for the first few months… and of course we might also have a few surprises in development for you as well!
Thanks again for your support, it means a huge amount to us. We built this bank to help people, as well as make money, so it’s really important to me and to all of us here, to understand what you need and want.
All the best
PS Reach out to me over DM’s if you want to catch up over a coffee to talk this through in more detail. E