It's definitely an industry ripe for rebirth. For instance, I should be able to partition my money into several lightweight accounts - one for groceries, one for home expenses, investment, etc - and automatically have fractions of my deposits sent to those accounts so my budgeting and money management are handled without any effort on my part. I should have lightweight cards available for each of those accounts with online card management (request/terminate cards, track per-card spending); multiple cards per account so I can give my wife full use of "grocery" card, and alerts/notifications when I am spending too much in an account/not efficiently allocating the full amount/potentially using a card improperly; financial projections; and so on.
Most consumer products and customer services should be totally accessible through a web interface. All of this could be built on top of today's banking infrastructure as a mostly-frontend service but instead I'm forced to give my personal information to services like Mint (who can not and will not ever do what I actually need it to do) or trust Random Startup #347 with access to my bank account because banks are monoliths without technical capacity or consumer-oriented business practices. I imagine some upstart will eventually come along with a better solution but banking regulation (though absolutely necessary in many ways) will hinder growth of any challenger.
If anyone has any recommendations in the meantime, please let me know!
Most consumer products and customer services should be totally accessible through a web interface. All of this could be built on top of today's banking infrastructure as a mostly-frontend service but instead I'm forced to give my personal information to services like Mint (who can not and will not ever do what I actually need it to do) or trust Random Startup #347 with access to my bank account because banks are monoliths without technical capacity or consumer-oriented business practices. I imagine some upstart will eventually come along with a better solution but banking regulation (though absolutely necessary in many ways) will hinder growth of any challenger.
If anyone has any recommendations in the meantime, please let me know!