While we have strong opinions about regulatory and legislative changes that would enable innovation, it's impractical to attempt systemic disruption as a seed stage company.
Our mission is not to change banking just for the sake of it. We are focused on providing a better service for our members.
There's a lot of room for improvement, even within the current system, and by focusing on things we can do rather than things we wish we could do, we'll be able to make positive progress.
Many well meaning startups have pursued immediate disruption and have failed. Our view is that if we are successful within the current environment, we'll have a better chance of being able to help move things in a positive direction.
That said, it's probable banking will get disrupted eventually. It's just that a large company like Google, Apple or Microsoft will probably be one of the main causes, since they have enough money to keep battling until they either become too big to stop or the incumbents give up.
It would be interesting for one or more to fund a push into banking maybe leveraging a bank they bought for its expertise and infrastructure. Probably opportunities for analysis and ad targeting on top of it. Wait, "ad-supported payments via displaying them at POS kiosks." Oh, shit, did I just make up an industry on the spot or does this already happen? ;)
As for your other comment, apps and ATMs are already being used as an advertising channel. I wouldn't be surprised if we see (much) more of this.
First concrete thing you've said. Always a way to get into a market crowded with incumbents, esp if account reps have personal touch. Fix anything that annoys people and $$$'s result. Good luck to you on that part as you have a good chance of making it there.
"As for your other comment, apps and ATMs are already being used as an advertising channel. I wouldn't be surprised if we see (much) more of this."
Figures haha.
Alternatively, they can just buy up the best-of-breed, patent their technologies, and use that to force costs up. So many ways they can play it. And they're good at eliminating threats to their profitable, predictable, status quo.